I've been wondering about that. My big fear is that now that Windows Phone 8 is the standard, will no new apps be coming for WP7?
Microsoft has done things like this in the past, where once a newer version of a product comes out the old one gets cut without any type of support (in this case, no new WP7 apps at all including Xbox Live games). Owners of the original Xbox got canned the day that the 360 came out.