Epcot is also my favorite park at WDW. It is a bit troubling that we haven't really heard anything more concrete by this point, since we're only 8 months out from a "kick-off" of it's anniversary. I would hate to think that Disney is blowing this opportunity to do what they really are very focused on these days: make money. The merchandise opportunities alone would be well worth the effort. They learned what can happen with some effort (not a huge one at that) with the Disneyland 50th celebration. Some much needed paint on structures, one new fireworks show, one new temporary exhibit, one new parade, and tacking on the already planned Buzz Lightyear addition and Space Mtn revamp. Disneyland experienced record attendance and it made a load of cash for them. Heck, it caused me to venture out there for a week long visit just to see the fireworks show! I almost spent more on that 6 day vacation at Disneyland than I did on my last 2 - 5 day visits to WDW!
Doing a similar effort at Epcot could substantially raise attendance and revenue. Create a new show to replace Illuminations (supposedly already in the works), possibly enhance Spaceship Earth (again rumored to be in the works with Siemens), rework Journey into Imagination (AGAIN), new film for Soarin', new films in Canada, China (probably tougher to do), Norway, and France, update El Rio Del Tiempo in Mexico (supposedly already in the works). Bring back a new version of Tapestry of Nations, do SOMETHING with Wonders of Life, put in an exhibit on the history of Epcot and Walt's original dream for EPCOT (in Innoventions, Oddessy, or the Millenium pavillion), create some spiffy new anniversary merchandise for everyone to empty their bank accounts to buy (Spaceship Earth MouseEars anyone?), and get rid of the wand. Heck, sell off parts of the wand as another poster mentioned and make even more $$. The film updates for world showcase, while easily would be a few million $$ each to produce, would be very low cost given the many years they can run versus a $10 to $20million new attraction. Soarin - a more expensive film to produce, but again, given many years of run, it wouldn't be a huge expense overall.
As another poster noted, spread out the attraction enhancements from 2007 into late 2008, and have the parade, fireworks, and historical exhibit ready to go on Oct 1, 2007. It worked for Disneyland in a major way.
I had planned on making a trip to WDW just for Epcot's 25th by mid 2008, IF they had a celebration worthy of the effort. If they dont, then I definitely wont go until 2009 or so. When one has to be selective with big vacations and save up for quite a while to do so, it isn't worth the money to go without something new and special to see.
So Disney, dont go to the effort to celebrate, and many of us won't either.
Sorry for the long post!