Ah the anticipation.
First off this is their pro grade lens in cropped sensor format. Toke denotes pro grade lens by "ATX Pro." The letter "D" denotes that it's made for dslr sensors, while a "DX" denotes a cropped dslr sensor.
See here: http://www.tokina.co.jp/news/tokina2006.jpg
Second, having owned both of the new Tokina 12-24 ATX Pro DX and the 100macro f2.8 ATX Pro D, I can say that they are really really built well. It doesn't feel elegant, but it just feels very robust. They have a really nice hood that is felt lined on the inside and a great center pinch lens cap (Canon should copy this cap). Tokes make my tammy's feel cheaper by about $200 from the build quality/feel aspect.
Both of the new Tokina's have undercut the market from a price point, so I would expect it to undercut the Tamron 17-50 by a small, about $40 margin. I don't think it would be cheaper than the Sigma 18-50, which just had it's own price lowered to just under $400.
In terms of optics, I find the toke's to be L level of sharpness and also with similar color tone, perhaps a bit cooler, but not by much if any.
Lastly, both tokes have CA when wide open. This improves by about a stop, so I'd guess about f4. According to a guy I know who shoots with a Pentax, it's b/c toke and pentax share lens design but Pentax has a better coating that they don't share with toke. Who knows. Unless the CA or the distortion is really bad, I'd probably go with the toke for it's build quality/feel and it's overall good optics and color tone.
Should be very interesting to see.
BTW, all these 16-50 ranage zooms for the cropped sensor is mimicing a traditional walking around lens range of 24/28-90 or so. So if you wanted one lens for walking around, these should be good.
As for me? With a cropped sensor, I'd still prefer an ultrawide like a 10-22, and a normal zoom like a 24-70, as this two lens combo is more versatile, but it would also cost more as well.