The big debate doing the rounds at present is working out who is going to run the registry, apparently the EU comission or whichever body handles things was due to put it out to tender this summer, but things are running a bit late from what I can gather.
As for making money, yes Registrars will make money and domain speculators will make money, but KEEP AWAY from even thinking about registering domains such as Coca-Cola.eu if you get the chance, simply put the days of registering trademarked domains are GONE.
On another note if anyone is interested, I am quite keen to invest in setting up a .EU registrar or Registration service provider.
Shak
although I am sure Lisa when she returns from the Icann conference will have some insider info :)
Shak