The news is brought to us by a report from Car and Driver, and though it's not earth-shaking in its import, it's an interesting and frankly welcome development. The return of the Discovery name to the lineup will harmonize with the rest of the Land Rover/Range Rover lineup (including the possible return of the Defender to our shores), while the rest of the world will likely see the LR2 transmute back into the Freelander.
The recently unveiled DC100 concepts, a preview of the next Defender, will surely see the same transformation, too--assuming it happens at all. At any rate, the return to proper names instead of the alphanumeric soup we have now will be a good thing. The change is expected to be phased in globally over the next five years.