Until I'm actually watching the first teaser trailer, I'm taking every rumor I read/hear as just that: a rumor. I won't even bother taking it seriously unless aintitcool, chud and badassdigest are all reporting it, not a smalltime operation like cosmicbooknews who offer nothing aside from "we've got good reason to believe our source because he was right about other stuff." Even when there is a widely reported rumor, I won't read it if it's prefaced by "spoiler, spoiler, spoiler."
I'm gonna be highly suspicious of any rumors regarding ep7 from here on out. I would think GL, Iger and now especially Abrams want the script under lock and key. Either someone at Disney and/or Lucasfilm is intentionally leaking false info to throw everyone off or someone out there in internet land is simply making stuff up.
Also, I'm not gonna lie. Part of me just really doesn't want to believe rumors like this are true. At the very least, I would want them to set this 40 years after RotJ and have it be about a completely new group of characters, with old Luke in the Ben Kenobi role. In other words, it should be in the spirit of the original 1977 film. Also, this is a perfect way for them to avoid the problems of reconciling ep7 with the post-RotJ EU. Instead of "pretending it never happened" they would simply be "ignoring it."
When this thing starts shooting next year, it will have been 38 years since the original film was shot. Having it take place 45 years later doesn't seem so complicated to me.