Should I Buy a Canon EOS 7D?

I've always been interested in photography on an amateur level.  Have owned a Pentax SLR back in the 70's, and was probably one of the first people to buy a digital camera when they came out. Since then, I have owned several point and shoot digital cameras.  I presently own and shoot with a Canon SX200IS, which I love, but find somewhat constrictive.

I'm considering purchasing a Canon EOS 7D package that Costco is offering for $1599.  The package includes the camera, an EF 28-135mm IS lens, an external flash 320EX, 8G SD card, Bag, etc.

What concerns me is the fact that the camera was introduced three years ago.  Am I purchasing old technology that is about to be replaced with something better and cheaper?  Am I jumping into a camera that is way above my needs?  Would I be better off with a Canon T4i?  The price doesn't bother me, but the age of the unit does.  My 70th birthday is coming up (that age DOES bother me!), and I thought this would be a nice present to myself.

Any opinions and/or recommendations are welcomed and appreciated.