Wizards reprinting AD&D 1? That's certainly news to wake up to.
The books will be going for $34.95 (PH & MM) and $44.95 (DMG). Old copies are available from Ebay for far less. Should be interesting.
The first printings of these books from the 70s were top quality and if they haven't been flat-out abused, still hold up just fine today. Printed as books should be. If I get to see one of these I'll be very interested in the binding (and paper stock) and how the books compare physically to the originals.
How will the books be produced? The PDFs from a decade ago were bad scans, and there is no way the original production masters (in whatever form they used) could be used for a new print job, right?
New covers? Not necessarily a bad thing (that early printing Sutherland MM cover is terrible, for starters), but what will the new covers be? I think they're smart enough to not put 4e style art on the covers but being mindlessly old school will end in tears as well. I hope the Gygax memorial flyer next to the announcements (see here) is not an indication of what the covers will look like...