FWIW - Adobe announced the discontinuation of CS Review "on April 12th, 2012). So I'll draw the following conclusion:
1) The new Adobe CS Cloud service will be announced that day (just days before NAB)
2) The new Adobe CS Cloud service - and the new CS6 - will be available on that same day (boxed products being available later).
Makes sense, given the timing of the discontinuation, the previous statements that indicated this exact timeline, the intent of Adobe to begin going to the digital download (and subscription route) and the fact that NAB is and has been a perfect launching pad for these things.
It ain't fact until Adobe sez so...but you may want to consider this bit of logic for your own purposes.
I'm sure the idea is to steer folks to the new Creative Cloud service. Otherwise they'd have two similar concurrent services.
I never cared for CS Review as it was implemented...the Premiere Pro integration was great but the user experience for editors and clients left a lot to be desired once reviews were actually online.
Regarding Story, read the rest of the FAQ.
As for CS Review, so many of my clients complained about it. They didn't like creating accounts, they didn't like the slow playback, they didn't like the low quality, they found the controls unintuitive.
As for creating an account, that is a bit annoying. Simply asking them to use a password would be nice enough. The slow playback was an issue for my clients on fast connections (talking corporate lines, big city, "no expense spared" type stuff). As for being unintuitive...well, I never found that to be the case, but then I'm more tuned into this stuff than I would expect your average attorney or business owner or school teacher to be.
Anyway, the fact that it was free for CS Review was great, but the service itself was the source of complaints by my clients so rather than blow them off, I gave Adobe CS Review the pink slip. I have been doing my reviews on Vimeo Pro for a while now and it's much easier for my clients. There is a private review page and comment area and as soon as the client approves the final video online, I click a button and it goes live on the main site. Easy.
The one feature - the "killer app" - that CS Review had that held my interest the most was the integration to and from Premiere Pro. As far as I can tell, that worked fine (although recently - after having stopped my use of CS Review - I did notice that the CS Review tab in PPro caused issues at launch every time I opened a PPro project). But you know, Clip Notes had that feature before and both then and now (or then and then), the feature was almost unused because no matter how well I explained it to my clients, they just ended up making notes on a notepad as they watched the videos and then sending the edit notes to me in an e-mail.
The only time that feature really shined for me was when I had some editors collaborating on a piece. They easily understood how to use CS Review. So for those purposes it is great. That's just not what I was working with the other 90% of the time when the reviewer was the end client.
So while I'd agree with you Jim that it is disappointing news, it's only disappointing because it was a feature that sat there unusable for most of the time that I "owned" it. So I for one am looking forward to what Adobe brings along for the review space in Creative Cloud.