Hmm, don't get too excited guys: it says first half, not next update. I think they'll do this on the desktop Mac Pros first, which aren't quite yet due for an update for a few months to come. Then whenever they decide to upgrade to Ivy Bridge maybe we'll see it on consumer level products.
If my USB cable breaks, I can still use my Mini-Display port cable, my Firewire cable, and my ethernet cable because they are not broken. Therefore, I am still able to use my external monitor, external hard drive(s), and internet connection.
You won't only have one lightpeak cable if that's what you're getting at. You'll probably have to daisy chain the devices together with multiple lightpeak cables, just like you would with Firewire or old SCSI devices. Pendent on what materials they use to create the stuff, it'd not cost much more than replacing one of the standard cables hopefully. I'd use
TOSlink cables for predictive purposes, since they're a sort of optical digital connection and could operate on similar principals. They don't have any copper in them though so perhaps it'd be a little higher.
If you're talking about the connector, just because you can Daisy Chain, hopefully doesn't mean you have to. There are several rarely used or nonstandard connectors Apple could replace with Lightpeak technology. If they have enough room for multiple lightpeak connectors you might be better off with a Lightpeak connector because if the only minidisplay port inside your computer breaks, you can't use any external monitors until you take it in to be fixed. Whereas if you have two Lightpeak connectors, you could just plug your monitor into the other possibly still functional port.
Basically if Apple has any good sense, there's nothing more to worry about on the breakage front than you would have with any other wired connection.
It is still performing great on copper, and first it does deliver power (on copper) + data on fibre optic; moreover, LP is being developed to be backward compatible with USB 1/2/3.0, HDMI, Ethernet, FireWire 400/800 and else.
Is it USB compatible or without an adapter? I have slight concerns about the possible light to copper conversion processing time since I play games and have input lag concerns with both the USB joysticks. (HDMI kinda kinda concerns me too for similar reasons, esp since I just bought a new TV. I was hoping the last mac mini Update was a sign of things to come. It probably can't be helped though I guess and I can always play on the built in screen or an external monitor as par usual.)
Aside from personal concerns adapters get costly if you have to purchase too many of them and create the sort of unslightly inconvenient mess that iMac users usually try to dodge. Hopefully they'd have both lightpeak and USB at first, otherwise our niche computers could be locked out of the large majority of peripherals since the battle hasn't even started and USB got a huge head start.