Disney announced today that they will not be holding the 2011 or 2012 Food and Wine Festival in Disney Land. The construction going on at the parks will affect both the entry area and the "hub area" which Disney claims would make it difficult to put on the festival. Right now it looks like Disney has no plans to relocate the event.
There are two things we can expect here. First there is no possible way Disney can hold this event in it's normal location. I haven't seen the plans but the fact that Disney is putting off a cash cow for two years in a proof that there is no way they can pull it off in it's normal location.
The second thing you can expect is Disney to have an alternate event for 2011 and 2012. I can't imagine they'd let that income go without trying to do something else. This is Disney we're talking about.