I am happy that CoC is receiving the love that it deserves. It is, in my opinion, one of the greatest RPGs of all time. I actually enjoyed the demise of my character, the esteemed Dr.Whitfield Gropes. Ironically, he didn't die in some asylum, slavering and howling at the moon. He died in a plane crash.
Given the fact that the six previous editions of CoC are perfectly fine, I suppose a new edition isn't imperative. However, this edition could be the greatest edition of all. I am so excited about it that I have started to dream of cyclopean architecture and tenebrous darkness.
We'll have to see what happens. I am sure that the finished product will not disappoint. I plan to use some of it in my Hrulvir campaign.