I'm maybe a little behind you but in the same boat. The records mean less and less, it's more about head to head competition. Unfortunately, record chases usually preclude head to head competition.
As for what this means to the sport, I think it's an interesting standard to go back and rewrite the record books so significantly but I think it could be for the positive in the long run, if not even the short run. If nothing else, I have a hard time believing Chicago, Berlin, London and others will not be going to early starts for the elite women as soon as possible and I like those early starts. It puts the best women in the world in the spotlight by themselves, not engulfed in sub-elite men, as things should be.
Honestly, if I were in charge in Chicago or Berlin, I realize it's late in the game right now to make major changes but I'd still have people on the phone right now with local officials and the elite women's agents to get a feel for the feasibility/interest in starting the elite women early.