Windows Phone 7 Apps Will Run on Windows Phone 8
With regard to existing applications: today’s Windows Phone applications and games will run on the next major version of Windows Phone. Driving application compatibility is a function of Microsoft’s commitment to its developers. Regardless of what we release in terms of new developer features and functionality, we have made a large investment in protecting your existing investments.
Got it everyone? The apps you have now will not become useless at the end of the year when WP8 comes out. (Now if I could only port my old Symbian apps.)