Wow, I can't believe this. I honestly thought it was a joke when I first saw it.
I've liked a lot of Disney live action stuff they've done lately (the four Pirates, Prince of Persia, Tron Legacy, Avengers) so I trust them to find the right people for this. I think I'm more interested in a Disney produced SW trilogy than I would be if it were still entirely Lucas.
Lucasfilm will exist as a separate entity within the Disney Empire, and Kathleen Kennedy will head the division, and is the Lucas appointed head of the Star Wars franchise. So, fans shouldn't be up in arms or entertaining gloom and doom scenarios. With Kennedy at the helm, she will be the one picking people to write and direct, not the higher ups at The House of Mouse.