Google has said from the beginning that Motorola was treated like every other Android OEM. They received no early access to Android updates compared with any other OEM. Clearly, since their management were former Googlers, they had a bias. The interesting thing will be will those people stay at Motorola or go somewhere else?
This deal will not close for at least 6 months, and probably longer, and clearly Motorola is already well along on the next Droid models to come out this year, since those things take at least a year to develop. Google is not going to allow Motorola to slack off - they have an obligation to run the company well as part of the sale agreement, and the deal may not receive regulatory approval. At least for the short-term, things should be fine.
As for Lenovo, they bought IBM's personal computer business about a decade ago. If you owned an IBM Thinkpad back then and loved it you'd probably still be inclined to buy a Lenovo Thinkpad now. Lenovo has managed that business line well. Hopefully the same will be true with Moto. Unless this one breaks or something, I'm still 19 months away from my next phone, so I have plenty of time to wait and see.