I love it, I love it, I LOVE IT.
Since Ruby and Sapphire, this is precisely the thing I have been waiting for in a Pokemon game. I always felt they needed more continuity in the games, and while people argue (reasonably) that the Tohjo story ended in a satisfactory way in GSC/HGSS, I would have ADORED to be able to battle Gold and the Tohjo Gym Leaders/League. I liked RSE, but I was quite disappointed that there didn't seem to be any more relation between the games, or at least none of real significance.
The fact that these games are actually direct sequels AND that they're including loads of characters from the previous games is very nearly too much for me, and I'm vibrating with excitement as I type this. One thing I'm curious about is, however...
We know that B2W2 takes place two years after BW. And we know that BW must take place a few years after HGSS, because he's married a woman and has a son who must be at the very least 3 years old.
Yet the CoroCoro screens (or whatever) show the older characters in their original art- it's not new. In the case of Giovanni/Steven, it's their Gen 3 art, which is old. And the sprites for Lance and Blue are from HGSS. So I know that their appearance doesn't necessarily mean anything, but I'm surprised they don't look even a little different, seeing as a few years has passed.
I imagine the tournament system will be a bit like the Battle Dome in Pokemon Emerald. Although instead of battling with just two Pokemon, you battle with 3 (going by the screens). I'd prefer to be able to battle with a full team, but that'd probably be overkill, seeing as how hard it can be to take down a Champion's team without items (as I'm assuming items will be banned).