Very interesting news in the world of filmmaking, and something that caught me completely off-guard. Depending on how the transition is handled (please, Disney, use the Marvel approach) this could be very, very good. The idea of Ep VII is also something that I find rather interesting. Which way will it go?
However, not everything is rosey. It's quite possible that the fan produced material may die off. While Lucas has been very happy to let others play in his sandbox, Disney is rather strict on that aspect of things. I could see a lot of C&D letters going out once the deal is approved by all relevant agencies.