I'm still hoping for a beautiful ereader only. Yes, one that just lets you read! No cameras, no email, no texts, just a book!
I'd be surprised if the T4 note reference design was adopted as is by BN because doing so would lower the screen resolution of the 7 inch device to 1280 x 800.
That's a decent resolution on a 7 or 8 inch device, but they'd be panned in the press for 'downgrading' the display.