We've seen it? Where? I'm dying to see the awesomeness that is Bludgeon. I looked at it this afternoon at TrU, and it really looks NOTHING like Whirl. It's a light blue chopper, and that's where the similarity ends.
I bought the set just for Whirl. I like the mold and I liked the character selection for this mold. It is a nice update to Whirl in my opinion. I don't collect decepticons so I will get rid of Bludgeon.
Hasbro showed it at Botcon during their panel. No photography allowed. Since we're getting a new Bludgeon anyway, Whirl is pretty much the only reason I bought this set too (though the Bludgeon in here is pretty damn good).
Never checked the price because I always pass. I repainted both of my Blackout and Wreckage a while ago so I don't need these two.