It definitely looks like the end of an era for this fine downtown attraction (albeit not in the last couple of years). However, I had a meeting there last week and it still sounds as if the new owners plan to keep at least part of the place running (Cheyenne Saloon remains open even now), while the downtown development area are still anxious to see some kind of attraction in place while much of the rest of the district is getting quite a revamp. I think it is a case of 'watch this space' over the next few months while they work out the best all-round scenario for Church Street.
Incidentally, the downtown area as a whole is well worth visiting. There are some great new restaurants (Lake Eola Yacht Club, Concha Me Crazy and Metro Espresso) along Lake Eola, a few interesting new stores and a couple of excellent boutique hotels (Veranda Inn and Eo Inn), in addition to some of the larger-scale development of the Orange County History Center and the Grand Bohemian Hotel. The free Lymmo bus service around the whole downtown area is a great service, too. Big wheels are in motion here, and I think there is a lot more revitalisation to come from downtown Orlando, irrespective of what happens at Church Street.