The thing is Disney doesn't need to cut $$$ from one ride or improvement to another. They need to stop siphoning off $$$$$$$$$$$$$$$$$$$$$$$$$$$$ from the cash cow (the theme parks) to pay for unprofitable and unwanted junk elsewhere in the corporation.
The queue lines are definately part of the show in my book. take away the show and the Disney Magic and you've got a glorified six flags.
From what I understand, it will be across the water from Tarzan Rocks. Looks like the area is just right of center on that picture.
If this is true, Everest will provide some interesting views from Kali and the bridge between Dinoland and Aisa.
I believe that the land clearing at the top of that picture is for 'future' expansion and not for Everest as it has been cleared for some time now.