Considering that spell levels as we know them are going away, I think its safe to say that cantrips as we understand them are also going away.
From what we can tell of the system, a wizard will likely have 3 sorts of slots: at will, per encounter, and daily.
His at will and per encounter abilities are likely chosen much like feats. You pick a spell of the appropriate level from the appropriate silo and know you 'know' that spell.
At will abilities are likely to be 'warlock-like' blast abilities: ray of frost, flaming hands, magic missile, scorching ray, acid missiles, enervation, etc.
Per encounter abilities are likely to be offensive and defensive area of effect spells and short term (duration of encounter) buffs: shield, fog cloud, 'acid bog', invisibility, fireball, blink, cone of cold, bull's strength, etc.
The per day abilities are likely to be the big game breaking utility spells: speak with the dead, know alignment, teleport, passwall, wish, etc. (and in the case of clerics, healing spells).
A first level wizard is likely to look something like this:
1 at will spell that looks something like a cantrip (say 'Ray of Frost' at will)
3 other spells that correspond to current cantrips (light, detect magic, ghost sound)
1 per encounter spell that corresponds to current 1st level spells (say Color Spray)
1 daily 1st level spell (Sleep)
At will and per encounter effects seem like they are tied to the wizard's wand or staff, and daily ones will probably still be largely Vancian (spellbooks, components, etc.) Apparantly you can get 'Wands +1' so that for example, your 'Ray of Frost' would now do 1d3+1 damage. You also apparantly get feats that let you spontaneously metamagic your wand effects once per encounter. For example, I can imagine a feat that lets you use one of your at will blast effects in a spray that effects all targets in an area once per encounter, or one that lets you add a bull rush 'push' attack to your wand attack once per encounter.
