I figured they'd keep the Colorado Pass, but I participated in the survey they sent out to pass holders and in it they talked about the new pass "replacing the other passes." The good news is they were thinking of having the Epic Pass cost $750, but I guess they listened to either marketing folks or the survey respondents and came down on the price.
On the website they have a box for a promo code when purchasing the Epic Pass. I'm hoping to get an email from them with a code that reduces it even more. Then again, I might have better luck getting a glass of ice water in hell