Aww, this is a bummer. I really like Lost Continent for it's originality and for it's great themeing. It really did define the park in my my mind and it was cool because it didn't have a rights brand slapped all over it.
I'm sure HP will be good, but IOA has just lost some of it's oomph. Obviously I'll still visit the park, but I'll never be able to experience the cool, original version of it.
And if the Griffon statues are gone, Mystic Fountain is likely going too.
I need a donut to cheer me up.
EDIT: Just noticed that this is post 1666. Is that creepy or what?