I just got the email so jumped over to Sony's site to look at the 'new' reader and was shocked to see that not only does it appear to be very similar to the T1, it seemed to me the only difference was the social media intigration. Then I looked closer and saw that it doesn't mention MP3 playback at all?
I don't use the MP3 player myself, but it seems a backward step to remove it from device completely imho. That just makes the 'new' device a step back from the 'old' model.