I've seen a lot of people who didn't really read the stuff, or heard about it through others, so here's what I've gotten from reading all the threads and announcements I've seen:
1.) The new system will have something to do with quests
to me this is a great thing, I"m getting sick and tired of finding 90% of people in the support professions (crafters, entertainers, medics) are all just there to get through the tree and move on. Usually that means they are useless to the community. Example, weaponsmiths that turn out a dozen terrible scout pistols then post them on the bazaar, for large fees no less. This was destroying the community. The game relies on players to support eachother in their professions, and hopefully now people will just play the professions they like (and maybe some will try new things *gasp*)
2.) There will be a reimbursement setup implemented
for all of you who have come out angry and shouting when they heard the system would be changed, thinking you would lose all the progress you made, get your info straight first. And its not our fault, or SOE's that you decided to waste your time (not-)playing and grinding until you were blue in the face.
3.) The Jedi revamp is probably going to take months at least to implement
so, all of those who are certain the new system will force you to start all over, don't worry, you probably have time to bumble your way through the remaining requirements you can set in stone (people still don't seem to pay attention to the fact that there is almost certainly more to it than mastering professions)
As far as holo's go, we don't know how they will translate. I would actually be a little surprised if they became a useless relic. But we'll have to see how that shapes up, won't we?
=)