Will the v3 upgrade be free? I'm seeing a lot of goodies among the v3 infos, but not much about how licensing will work. 

So if my client has a paid license will they get v3 for free or as a paid upgrade. If paid will it be a full price or a discounted?
All Craft CMS updates are free of charge - including major versions. In other words, Craft 3 will be a free upgrade.

Edit

As announced under DotAll 2017, following the release of Craft 3 in April 2018, P&amp;T is changing the pricing model for Craft CMS. In order to stay updated, Craft 3 sites will have to renew their license yearly (for a reduced fee; $39/year for Client edition, $59/year for Pro) in order to continue to receive updates after the first year.

Note that Craft 3 will still be a free upgrade for Craft 2 licenses purchased before the release of Craft 3, as these licenses will be exempt from the yearly updating fee and will continue to receive free updates indefinitely.

Source: https://craftcms.com/news/dot-all-2017-announcements