https://photorumors.com/2017/09/18/adobe-lightroom-7-rumors/

How does this effect Lightroom CC?

Does my LR CC subscription entitle me to a standalone download?

There will be the normal upgrade from LR CC 2015 to LR CC 2017, free upgrade for subscribers.
The old LR 6 catalog format will be migrated to the new LR 7 catalog format.
If Adobe follows their previous pattern, the LR 6 and LR 7 installs will be side-by-side.

Subscription and stand-alone are just licensing differences. The software is exactly the same for LR 6.x and LR 2015.x .

The same will probably hold true for LR 7 and LR 2017.

That said, if you want to have both versions of the licensing, it works best to use two separate email addresses for the licensing.
Both license types allow for installs on two computers (work and home, desktop and laptop). However, the two different licenses are two separate purchases.

Gotcha.  I guess my real question is, what does the CC subscription get me that the stand-alone doesn't?

Consider that specifically do NOT use all the "Cloud"/mobile crap, because I don't want my software hogging all my bandwidth continuously syncing and uploading/downloading.  Every software manufacturer out there seems to think we're all running 100gbit fiber connections and my 1.5 mbit connection simply can't handle it.

The big thing I'm thinking is that I get PS and LR for $120/year, continuous upgrades, and when I get new computers I can just activate/deactivate per machine.

Standalone LR by itself is $150.

CC gets you PS and LR with all the latest features and upgrades. The standalone versions do not get new features except at major version upgrades (that you pay for).  Adobe claims this is due to accounting rules.

A brief explanation here:
https://laurashoe.com/2016/01/27/adobe-releases-lightroom-6-4-and-cc-2015-4-with-boundary-warp-feature/

An explanation directly from Adobe on how this is affected by Sarbanes-Oxley.

https://forums.adobe.com/thread/1223742