Is JLinked being merged into JFBConnect?

Sean,
Yes, JLinked is being merged into JFBConnect with the next major update, due out in February. At that time, all users will JLinked subscriptions will be moved over to JFBConnect. If you have the Social Bundle at that time, you'll get extra time added onto your JFBConnect subscription.. so, either way, you shouldn't 'lose' any time on your subscription.

JLinked will be discontinued as separate product and will no longer be developed. We will still be supporting it for any users that choose not to upgrade to JFBConnect.

I hope that helps answer your question,
Alex