When Microsoft dissolved the eHome team that developed Media Center and renamed the MVP program to Windows Entertainment and Connected Home, there was some serious questions about the future of the product. While that question won't really be answered until September, when Microsoft is expected to reveal the feature complete beta at the company's Build Conference, a few leaked screen shots at TheGreenButton.tv show the same old Windows 7 Media Center running on Windows 8.
In terms of compatibility with Vista and 7, so there's really no reason for Microsoft to pull it. We're not the only one who'd be surprised to see new features though, as everyone we know seems to agree it would be silly to think otherwise.