The lift hill (1st hill) will not be changing in height. After the first drop there will be a small camelback hill then up to the big drop (the current 2nd drop.) The top height of this hill will stay the same, however, 5 feet will be added to the bottom of the hill.
As far as the track goes, It seems to me, judging from the info I've obtained from Kennywood, that the track will be all new Morgan track, only the support towers will remain.
I live about 10 minutes from Kennywood, so I'll be stopping by for some construction photos throughout the winter.
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Neil
Pittsburgh, PA
www.geocities.com/neildeweese