Personally I think it'll be silly to have 4 "elite" tiers... I don't know any airline that does, and also that means that there'll be 2 Aeroplan tiers for each Star Alliance tiers. Basically I think they shouldn't bother with a 4th tier and just make the existing tiers better, eg Star Alliance upgrades or upgrades that you can use with lower booking classes (especially so for Elites' systemwides... I only need to pay an extra $300 US or so to buy a J ticket than buy a full Y and upgrade ex-SEL, and even then it's not certain that I'm going to be upgraded... just doesn't make sense)
However, I do believe that they need to increase the q-level for Elite.. It's quite possibly the lowest in the world for any airline belonging to a major alliance. They should increase the requirement for Elite and give it more benefits...
stargold