I'm a little disappointed the column logo is going. I think it was used appropriately and tastefully. That being said, as a fan of the football and basketball teams I won't really think much about it on a day to day basis.
What this is all about though, is an obsession in marketing to have one and only one logo for an identity. My opinion is that while moving in this direction is usually a good idea, it can be taken too far. My hobby is sailboat racing, and I belong to a sailing club that went through a rebranding effort a few years ago. Beforehand, they were like Illinois with many different colors, fonts, ways of placing the logo on their merchandise. Then they hired a "professional" who came up with one logo, that looks like it belongs on the top of a letterhead (kinda like if Illinois chose the column over the block I). It looks fine on the side of the building, but it looks TERRIBLE on shirts and hats and other clothing. I've begged them to simplify the logo for clothing, but the "professional" insists everything must be consistent. I just think that's a really stupid rule to live 100% by. Luckily the logo Illinois is moving forward this is pretty perfect, but its also a sign of a stupid trend in the industry.