I haven't seen it personally, but I've read reviews. It looks like they're pricing it to be a D300 killer. I thought they were going after the D700, but given the price, I don't think that's likely (not to mention the crop factor, the D700 is full-frame).
I'm curious (being a Nikon fan) now to what Nikon's answer will be. They just put out the D300s (which seems to have pretty much the same features as the 7D, except the resolution) so I'm guessing they won't have anything new for a little while at least.