This change certainly makes S II more desirable. GSM Arena confirmed the same from an internal source that Galaxy S 2 will indeed get the updated CPU.
But it leaves a big question in the form of the future of Galaxy S 2 variants with nVIDIA Tegra 2. I hope Samsung answers that too soon.

One reply on “Samsung Galaxy S 2 gets processor upgrade to 1.2 GHz dual core”
Gr8 for the processor upgrade but it has delayed the Global Launch of this Mobile to June according to Samsung India 🙁 🙁 🙁
https://twitter.com/Samsung_Mobiles/status/55606210270990336