I approached him, asked about his views on WP8 & direction of development. I was told windows phone 7.x isn't what was on road map to success. It is more of a fill the gap procedure. New developers along with old ones are being strongly encouraged to only used new SDK for WP8 as Microsoft doesn't want Windows Phone 7.5 or 7.8 to float beyond 12 months of WP8 launch.

He also suggested this is a huge transition period from 7.x to 8 & there are so many uncertainties around 7.x that developers who want long term revenue are encourage by the MSFT Dev Centre in UK to go for WP8 apps and those who want to make quick money for short term go for WP7.x

All in all, he summarized with a strawberry cider, that, don't expect WP7.8 to be feature rich like WP8, its for low end market as a cheap option and MSFT expects WP8 to replace that low end option after 12 months from now, dropping all the support for WP7 then.