I like it too...
... looks great to me. As for the wheel size, maybe KTM is going to follow the Tiger 800XC route and offer 2 different models? - one "road" version with a 19, and a "dirtier" version with the 21"?
I myself doubt it though... this new release 1290 seems to follow that dealer meeting product line pdf from a while back:
a) this is the 1290 to compete for the GS/Multistrada crowd.
b) an updated 990 with "1090" internals will be released later with a more dirt focus. (However with their new 1290, this idea may be hard to justify seeing how much overlap there would be between these 2 models - maybe the rumored "unicorn 700cc - 850cc" dual-sport would be the viable segment to go after instead).
Who knows - I certainly don't. Can't wait till october.