Pacific has done quite a bit of lying to the IBD (or LBS if you prefer) over the years. I love seeing the Aerostar in big box stores for about what we pay for it, but their version gets a QR seatpost clamp and a chain guard. It's not so much that they trashed the company and destroyed everything they stood for, it's that they seem hell-bent on screwing the IBD. I anticipate we will be dropping Schwinn soon.
As to Koffee's inquiry, this deal will have no affect on your end of the spectrum, as the Nautilus group that owned Schwinn fitness is a completely seperate entity.
The whole industry is a joke, really. It's all a matter of who can source items the cheapest from Taiwan and China (and yes, even the almighty Trek plays this game on many models). Then you market the heck out of what little innovations your product might have and go from there. I love seeing the same bike sold as different brands. There's few bike companies out there. And don't get me started on mail order...