Canonical, all is forgiven for the past few versions of Ubuntu which haven't moved forward. It's clear that you've been putting huge resource into Unity and I hope it has a huge future.
My personal desire is to have a multi-core, multi-gigabyte, 8-10+ hour battery life software development workstation, in my pocket, which can also receive phone calls. If this is the future, with Ubuntu, then color me converted.
That is exactly the plan and is being worked on at the moment.
X11 apps will work through XMir - they won't be touch optimised but will still work, will however be much more useable when connecting the phone to a larger display and a bluetooth mouse/keyboard.
Additionally we are working on a Qt/QML toolkit which will allow developers to write apps that work well on both mobile and desktop