Oh, I think just from the timing of the S5 announcement (earlier then usual), the timing of WP 8.1 (March??), and the rumor just now kicking up it's heels I am thinking it will most likely be a toned down GS5. I agree with unstoppablekem that it will not be spec-for-spec top end, but I bet screen tech, screen size, and quad core processor wise it will be in the neighborhood.
Throw in Tizen being delayed, and MS desperate to keep Samsung in as a WP producer, and I could see this being Samsung's attempt to truly test the waters if they could make some coin off of WP's growing marketshare with Nokia becoming a part of MS now. It could truly be a monster of an effort from them.
I, being a fan of the Focus S, also want to give Sammy the benefit of the doubt.