Potential new format?

http://www.wizards.com/Magic/Magazine/Article.aspx?x=mtg/daily/other/05192011d
From the looks of it, Wizards is using what appears to be a new format for some Magic Online event. They're calling it Modern.
The legal set list is every set printed in the new card face, so:

Spoiler:

With a banned list of:

Spoiler:

There's no indication of whether this Modern thing is a new real format, or something they're using for one event. I'd bet they're using this event a test for it, to see how it goes. It looks like an interesting format, probably fairly diverse.
The ban list is a little odd though. They axed the 5 colored artifact lands but left Citadel (probably to help a potential Metalcraft deck, I guess). And there's a strange lack of Aether Vial.