Got the letter a few days ago. Called CS and spent about 10 minutes grilling the rep on when the card switch would occur (approx Nov) as well as whether the new card would be 2% cash back. This is where the conversation got interesting.
He indicated that based upon the demographic of each customer the customer would be presented with a choice of cards when the switch occurs. Apparently, there is only one card that will offer 2% cash back and you're not guaranteed that will be one of your choices when the switch occurs.
I expressed to him that I thought the BofA mailing was poorly written and crap customer service