Without knowing what the "Plan B" would have been if they didn't get the Harry Potter IP, I don't know how to feel about the potential news the rights issue has been sorted, was Lord of the Rings on cards? we may never find out!
I'm also nervous about not cloning or cannibalising the US parks, as it feels like the existing lands are so successful partly because they grabbed the low-hanging fruit, and are based on the most interesting locations and sequences from the film. Ministry of Magic would have been so perfect for the UK, what's left on the HP fan wish-list? Azkaban perhaps, but a prison in the middle of the ocean is no Diagon Alley!
My gut feeling is given the timeframes, we may end up with the first D-ticket HP attraction (Hippogriff doesn't count!) - possibly even a simulator based ride, our parks Simpsons / Star Tours.
Jeez I hope I'm wrong and their designers have a ton of better ideas.