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Eric Brehmoops, apparently I'm wrong about the pricing thing. Going back and looking at the PSA announcement, it looks like they will be charging their regular fees for the half grade reviews (at the service level that applies to the current market value of the card as originally graded, not what it would be if it does in fact receive a bump). They do say however that "Since the cards are already graded by PSA, this process should be even easier than with ungraded cards." So again I think, for better or for worse, they are assuming that they do not need to, and will not, re-evaluate the card's authenticity and whole grade that was originally assigned.
edited to add: PSA currently has a service called "Reviews" (along with "Grading" and "Crossovers"), which they say is "For cards/tickets previously graded by PSA that you feel might be worthy of a higher grade. Submit in holders." Presumably they would never downgrade a card submitted for such a review either. You would either get a new holder with a higher whole number grade, or you would get your original card back with the same grade. The new half grade review system will presumably be just a special case of the existing Review service.