So there was a snapshot released today (Tuesday Aus), when we don't usually get them till Friday (Aus). This coupled with the changes to witch spawning in the previous snapshot (supposed to have something to do with Halloween), I am speculating that 1.7 will release around October 31.
If this happens, we will run things as usual. The server won't update till Bukkit has a reasonably stable 1.7 release. This isn't such a big drama with the new launcher, as it's easy to back date your game!
This does mean however that the changes in the previous post will take place soon after. Again, this will be a complete wipe of the world, bank and all that stuff. You will be starting again practically with nothing (only trophy type things).
If you want a copy of your build area, it is probably a good idea to start looking at doing it soon. I am pretty sure the world down loader mods are version related, so it is probably easier to dl the area using 1.6.2 then to have to wait for a 1.7 release of the mod!
If you don't know how to do this, well google, or arrange with someone that can do it to dl the region for you. I won't be doing it, and I am pretty sure milg won't be either. Oh, and don't ask for a dl of the world file cause it is huge, so that won't be happening!
Again, it is only the survival world that is being reset...things like the hub world will stay as they are as they are not dependent on world gen!