It's feasible that Cyanogenmod will release a compatible version though, isn't it?
Too bad the update won't be straight from Google this time. One of the key benefits of the Nexus One for nearly 2 years comes to an end.
Thus, what do you think cyanogen can do to make ICS properly run on the N1 hardware?
CM, on the other hand, will appear on any device that somebody is dedicated enough to bring it to. So if somebody really wants ICS on the N1, then they'll do it.