Actuall, I think its very clearly stated in one of the books that Hogwarts is in Great Britain, disguised as a ruined castle to avoid discovery from Muggles.
Anyway, c'mon folks, there is no way that Disney is in serious trouble here. Its not like US is getting a brand new theme park; they're just putting a new name on an old land. When you boil it down, its the equivalent of turning Mickey Avenue into Pixar Place. Now, I understand that the Harry Potter franchise is more well known and has more of a fan following than Pixar ever will, and the area is much greater than PP, but still, lets not lose our heads people. IoA will still be a one day park, and US will still be a two, maybe three day resort to visit, while Disney is almost a week long experience.
As others have said, Disney would be foolish to announce anything at this point, as it would be seen as trying to "compete" with PotterWor, I mean, the Wizarding World of Harry Potter. *whew!* :lol:
Also, let us remember that 2011 will mark 40 years of WDW. The WWoHP is expected to be completed late 2009/early 2010. Expect Disney to reveal significant plans sometime late 2009 regarding the 40th anniversary (I am anyway).
No need to panic people; after all these years, I think the Mouse knows what he's doing.