I'm an employee of The Mouse, and I can say we all crapped our pants when we got the e-mail from Bob Iger announcing this acquisition. I personally don't like that they have a release date for the film without a script, crew,cast...nothing. Most big studios do this now, a majority of the time the movie is crap. Hopefully they hire the right people.
It depends. Lucas has been said to have a partial story written that takes place after the original trilogy. Not to mention, that is three years away. That is a LOT of time do get a move shot in. Hell, they are going to make a third hobbit movie in the time the other two are being released. So it's not impossible. Especially if they adapt the Thrawn trilogy.