The report goes on to say that the Scion FT-S will make its debut at the 2011 New York Auto Show. That show opens April 22nd, so it is not that long until we perhaps see a production version of the FT-86. Rumor has it that there is an official production version currently in Southern California for the various tuners to use for modelling purposes.
The Autoblog story still suggests that both Toyota and Scion will get their own versions. This is going to lead to some crowded showrooms. Here in Canada, the Scion dealerships are a "store inside of a store", meaning that they are all located within an existing Toyota store. I'm sure both Toyota and Scion will want the their respective models on display.
Also, another big drop in the story is that it will have a 2.5L motor, rather than a 2.0L previously speculated. Certainly a step in the right direction! Guess we'll just have to wait and see. Just get it to market, I say!