On IAH/NRT two weeks ago, I was seated next to a lovely young woman from CO Marketing. While careful not give too much information, she did say that the current line of thought was to continue offering full EQM's for CO.com booked flights in 2005.
ALSO -- she told me that the SkyTeam announcement is days away. They had targeted September 1, but were awaiting finalization of some printed materials and web design. "Look for it sometime during September" - her words.