It's all comparisons on paper until we actually see people using 70D and get a better idea what it can (and can't) do.
Most of Canon's marketing touts the new Live View/video focusing system, which really is a big deal. But there are other key considerations... such as high ISO noise handling, dynamic range, and more. Canon appears to have constrained themselves in resolution increases (18MP to 20MP while rival cameras are now at 24MP). Does that mean they paid more attention to the quality of the images produced, over sheer resolution increases? I hope so, but it remains to be seen. The highest ISO sample 70D images I've seen so far is 3200, and I don't know if that was shot as a JPEG (in-camera processing) or a RAW (post-processed), but it looked to have very low noise.
70D also appears to have inherited the 7D's excellent 19-point AF system, but it remains to be seen if it's as good in 70D as it has been in 7D. The 7D has a discrete chip driving the AF (1D series style), separate from it's dual Digic 4 image processors... At this point in time, I just don't know how the 70D handles this. Is it using the single Digic 5+ both for focusing and and to handle 7fps images? If so, it might not give the same level of AF performance as the 7D. We'll have to wait and see formal and informal user reviews to find out.
On paper, I am a little disappointed that 70D's AF is rated to -0.5EV. That's the same as previous generation cameras: 60D, 7D, 5DII. The 1DX, 5DIII and 6D (center AF point only) all are rated to much dimmer -3EV. My 7Ds do hunt a bit in low light. And in a little lower light they give up being able to focus completely, when 5DII still can (altho it's center AF point only and rather slow), even though Canon rates them the same.
Still, 70D is impressive in most respects. I'm glad to see MFA back in the xxD body, especially in the latest and greatest iteration (40 lenses, lens specific, dual adjustments for zooms). And I'm very pleased to see expanded bracketing capabilities.
70D looks to be a great camera. But it's all on paper for now. I'll be anxiously awaiting reviews... and a 7D Mark II announcement. It will be interesting to see what Canon does with the next generation of 7D, to one-up the 70D!