Major Ultima Online Update in 2007?

WorthPlaying is reporting that Electronic Arts has plans to release a major update for Ultima Online in 2007 that will overhaul the game's graphics, interface, and more.
    The Ultima Online development team has been working hard for the past eight months to make real the vision of a thriving, vibrant Ultima Online. EA is completely re-building the Ultima Online client with new graphics and a new easier-to-use interface, while keeping the system specs as low as possible. It is an in-place upgrade, meaning you will be able to keep your characters, items, houses and everything else you've earned over the past nine years. There will be plenty of other surprises, but Ultima Online will re-launch in its new form in 2007.