Here is how the cycle will work through 2009:
The Winner of the World Chess Championship 2007 in Mexico ("MEXWinner") is crowned the current champion. The winner of The World Cup 2007, November 23 to December 16 the city of Khanty-Mansyisk, Russia, ("CUP2007Winner") plays Topalov in a "Challenger's Match". We will call the winner of this match the "CMWinner".
If MEXWinner is NOT Kramnik:
Kramnik plays MEXWinner in World Chess Championship match in 2008, known as "WCWinner". This satisfies the rematch clause for the former champion. In 2009, WCWinner plays CMWinner for the World Chess Championship of 2009.
If MEXWinner IS Kramnik:
Topalov plays Kramnik in a World Chess Championship match for 2008 ("WCWinner"). In 2009, CUP2007Winner plays WCWinner for the 2009 World Chess Championship.
Subsequently, the challenger for the world championship will be determined in a match between the winner of the FIDE World Cup and the new Grand Prix series.