SQL 2012 offers a new licensing model. This time it seems that Microsoft moves forward on license the powered SQL server use instead of the server or CPU.
What is new?
based on Core licensing, minimum 4 Cores per physical CPU, each license covers up to 2 cores per processor, so you can either license all power of the server or license the core involved in your Virtual environment.
The Mobility rights for Software assurance apply so you can use the licenses in your private Cloud
Is it more expensive? Well, it could represent 1/4 of the price or and increase on cost as you license more Cores due to the way you deploy your configuration of virtual servers.
Is it flexible? Yes, as you license Core instead of physical processor
What about editions?
SQL DataCenter dies, and the available licenses will be SQL standard, SQL Business Intelligence and SQL Enterprise (With DataCenter features)
What is the Guru take? It will be hard to achieve Nirvana quickly, and is going to start conversations on how SQL is deployed when upgrading the edition.