RR is very snoobish since the Phantom cost a fortune and is a chauffeur type of car, and the people who tend to be driven are often very fortunate. The "smaller" Rolls will remove the chauffeur stamp from the brand and make it more appealing to the younger crowd.
Will it be a Flying Spur competitor? No it won't. The Flying Spur is a relatively compromised Bentley, almost a bastard and is more of a S600 competitor. The new rolls will be positioned above them and will have a sticker price pined somewhere in the upper 100k spectrum. Standing between the S600 and the Arnage.