I have watched this and only thanks that I know about this "issue". Now on TWC9, Ping! and probably more channels they are exiting about WP8 but no one will tell you than current customers have to buy new devices. Everyone expected that WP8 will be available for current devices. And boom they create new OS not compatible with 7.x! Who will now create apps for old system? Now they guarantee 18 months support, haha, does anyone trust theme now?
In addition, what do you know about the super secret 7.8 update? Nothing, except that will introduce the new start screen. But when? Anything more? Will we get next updates? Have you ever been on User Voice for Windows Phone? There are hundreds of requests. Guess, how many are marked as Planned or even Under Review. The answer is: zero, null. Does it mean that WP7.X is dead?