It's not going to be the end of battery cage laying hens or veal production, but it will give them more room. It just says they have to be able to lay down and turn around, so the cage is a bit bigger. It's a step in the right direction, but it's not the end of farming like some predict. Having until 2015 to get going is way more than enough time, those cages are replaced every 4 or 5 years anyway according to the one farm near here that I know the owner of.
Yes it will effect prices, simply put not as many hens will fit in a building now that they have to have a bigger cage, and so some costs like heat and light will go up per bird. But some costs will go down too, like ventilation which is huge in the summer, so you might see it balance out. Still even at a bit more cost I think it's worth it.