I was not around for OD&D, or 2nd Edition. I started playing AD&D 2nd edition in 1997. So I've gotten pretty used to the 20-level scheme. Epic levels have always existed outside of that scheme for me as well. So knowing that they're extending the level range sits a little weird with me. Not bad weird, just weird weird. Like a koala bear crapped a rainbow in my brain. It's just going to take some getting used to.
That said, despite "omg videoz gamez" comparisons, this could be a really good way to even out the power curve. We all know Wizards and Sorcerers ramp up fast compared to their weapon-using counterparts. An extra 10 levels gives them an opportunity to spread things out much more evenly.
Of course, if at level 30 Fighters are at 8 and Wizards go to 11, that's really just delaying the inevitable, which I don't really like. Again, it's just a waiting game at this point.
Edit: I would also like to make it clear that I did get the Spinal Tap reference; I just wanted to discuss this seriously as well.