They went back to what they did with the B3 and B4 Passats; they based it on the A-segment car, just made it larger, but a little less fanciful. It is not a bad looking car, really. Reminds me of the B4 in its interior roominess, really.
It will be about $5k more than a similar-powered Jetta sedan, and use the same engines, save for no base 2.0L engine for the Passat. They will probably sell better than the outgoing model. Lets be happy the diesel is once again on the option list!
And BTW, the dealers already have some pricing info... a brand new 2012 Passat TDI with an automatic transmission and some options is about what my 'fully loaded' 2004 Passat TDI sold for 5 years ago, so that is not a bad price really. Look for a $20k to $32k pricing on them. 2.5L 5cyl gas, 2.0L 4cyl diesel, and 3.6L 6cyl gas engines. The TDI will (like the Jetta) be forced into the mid to higher trim levels, as we expected. So no, you won't be getting a diesel Passat for 20 grand, just like you won't get a diesel Jetta for 16.
I can tell you after sitting in them, the interior is without a doubt a little less 'substantial' feeling than my B5, but honestly the outgoing Passat felt cheaper to me as well, so.... But it still does not feel like a "cheap" car. Let's just hope the Yankees screw it together properly!