I am looking forward to it as well. Other than DarKastle, Oktoberfest has dwindled over the years with the removal of rides and coasters. It's so odd seeing that section of the park without a coaster since it opened with three back in the 1970s. Hopefully the drop tower and new buildings will be a good jumpstart to revialtizing that area.
John Reilly also said in that video (about 2:30 in) that the new coaster will open March 2012 and that they will be releasing details about it over the next 18 months. Looks like they are planning to debut it when the park opens for the season which would be nice as they haven't done that since Apollo's Chariot opened in 1999.