I think it's possible that this new prism design is part of the groundwork for such kinds of systems as are speculated on: it seems to me that this design leaves a fair amount of potential *room* for all manner of fanciness ...which may not necessarily appear in the first example.
One rumor I tend to hopefully-believe is that they've used this design to make built-in 100% magnification.
Personally, I think things like swivel screens are *mostly* just gimmicks that are really just bulky and redundant, since we have LCDs already which, though fixed, are perfectly-viewable from any practical angle behind the camera, anyway: folks who say you need that to shoot overhead haven't tried it with what we have, I think. (not that the live view on say a K20d is really up to active shooting that way, but I presume they'll have that video-able on the K7. )
Swivelley screens *do* have some shop appeal, though: it's a comprehensible, physical thing people can play with them and feel like they're doing something.
Kind of instant gratification... you can have fun imagining shooting at really odd angles, even if it's only likely a 'serious' feature for tripod work that I think might be better served by an accessory you could mount to the hot shoe and plug in somewhere.
One thing I've liked about the K-7 photos we've seen, is how they got the eyepiece off the back of the camera: it protrudes enough that you could sneak an articulated screen under there without forcing the photographer's face too far from the eyepiece. Could be pretty nice...