The pics aren't pink anymore but compared to what's out there yeah the camera does suck. as for everything else you mentioned... it's pretty accurate.
Yeah it's highly, highly, highly, highly, most definitely highly likely that the announcement coming up is for the Lumia 710. From the looks of it, it seems to me that since Windows Phone is still somewhat of a "risk factor" in terms being a business investment, it makes sense that T-Mobile (the carrier that is pretty much dead already whether or not ATT swallows is up) is the carrier of choice when it comes to making "wise" business decisions. What I mean is, since ATT and Verizon have the largest customer bases, the high end phones are likely to be on those networks since Windows Phone is still in its early stages of adoption, it's better to show the attractive phones to the masses rather than the carrier that's bleeding subscribers. What I don't understand though, is why Nokia would go crazy with pentaband phones when they were developing Symbian devices and now jump down to quad-band for the WP devices. It'd be nice to see that flagship device; the rumored "Ace" to have pentaband GSM for dual-network compatibility between ATT and TMo. Also from what I understand (from the rumor) it'll be LTE compatible so if they make it dual-band LTE then it can run on both Verizon and ATT's LTE networks but now I'm just counting the clouds in a dream lol.
Edit: I barely realized I gave you a lecture on Windows Phone but never bothered to answer your question lol. Well to be honest I have an HD7 on T-Mobile and it isn't a bad phone, but with this second generation of WP devices coming out it'd be a very um, dim-witted decision to buy it, especially if it's on contract. I would wait to see what comes out early 2012, as Nokia said they were going to go hard on manufacturing Windows Phones.