...The main decisions we have taken are that the LHC will run through 2012 before a long shutdown, we'll keep the energy at 3.5 TeV during 2011, and we'll work hard to increase the luminosity steadily...Seems reasonable enough to me. With the pressure from the Tevatron gone, it is not critical to squeeze every bit out of the machine. Hence the decision to remain at the 7 TeV center-of-mass energy of collisions which increases the chances that the thing will not explode in our hands again. More importantly, the run-1 is going to continue until the end of 2012. By that time, the LHC should have acquired some 5 inverse femtobarns of data, maybe more. This will be enough to see glimpses of new physics, provided there is anything below a TeV. But the most solid advantage of extending the run-1 is that the Higgs will be discovered earlier than in the alternative scenario with the 2012 shutdown. Thus, the minimum plan should be accomplished by the early 2013, if only Higgs is where we expect him to be. The disadvantage is that for 5 more years, rather than 4, I'll have to listen to talks about supersymmetry.
For a more illuminating analysis of the Higgs prospects, see Tommaso's blog.