If this becomes law - and it looks like a done deal - then if McDonald incorporates the RKBA - then I think the FOID is cooked - I hope the ISRA takes it to court immediately. Personally I think the FOID is unconstitutional -just like licensing the right to speak in your own home would be. However, I also believe that the courts would lean towards allowing such a thing if the state made a claim of compelling state safety for the good of the citizens, so long as obtaining a FOID card was a simple straight forward and inexpensive matter. (now we may know that is garbage, but courts are inclined in my opinion to let stand laws so long as they don't feel they are too egregious). But with tying severe felonies to the failure to have the license, I think that the courts will be more likely to overturn the FOID. The courts probably would have overturned FOID anyway since there are already some felonies that relate to having or not having one.
I can see most shall issue CCW licenses passing judicial muster, as they will argue that they are easy to obtain, non-discriminatory, and not unduly burdensome, and they serve a compelling public safety concern of the state as they involve carrying a loaded firearm in public, (AK, NH, and now AZ put the lie to that rational) but I feel the courts will let it slide. However FOID is not a CCW license - it merely deals with being able to even keep a firearm in the home or personally possess one - so again I think it will fail in the courts.
Just my guess, but once the right to bear or carry arms becomes established as part of the RKBA via McDonald and subsequent pending cases on the carrying of arms, and the state of Illinois figures out that they have to allow either shall issue CCW or open carry - then the FOID will be turned into a CCW license.
But short answer - with the current supreme court - the FOID will fail.