Ouch. The SL-1200MK2 is an awesome piece of equipment. This is just really shitty news. The fact that I've put off picking one up has finally bit me.
EDIT: So apparently Gizmodo got it wrong, and it's only the SL-1200MK6 model that is being discontinued (appended at the end of the link above). In other news, I hear that, three years ago, Christine O'Donnell did not have sex with an SL-1200MK2. (Everyone knows that Gizmodo and Gawker are sister publications, right? )
Check out the video on this page: http://www.vh1.com/artists/az/jin/artist.jhtml Jin is a Chinese rap artist, who just released his first English release. It's worth checking out at least once for the cheeze factor.