I'm not even sure they will continue with 2 models now, makes more sense to merge them, raise the price of entry slightly as they're no longer trying to appeal to MBA buyers (which was the $1,299 model's original purpose as Phil Schiller said on stage) and just go with that.
Base tier 14": 8GB RAM, i5 CPU (28W), 512GB storage - $1,499
Middle tier 14": 16GB RAM, i5 CPU (28W), 512GB storage - $1,699
Higher tier 14": 16GB RAM, i7 CPU (28W), 1TB storage - $2,099
Then BTO options going up to 64GB RAM, 8TB storage for crazy money. All models have the 16" style touch bar, improved speakers and 4 TB3 ports.