The decision, looks like, was made (in Russian) and another Udaloy-class, Project 1155 large ASW ship, this time Admiral Levchenko, will undergo same modernization as recently re-commissioned Marshal Shaposhnikov, which now undergoes post-modernization trials and should join the fleet (Pacific) fairly soon. Levchenko should remain at the Northern Fleet. Looks like all remaining 7 Udaloys will undergo modernization. They will be re-designated into frigates but with an immense surface warfare potential.
Just to remind you how those new (old) frigates will look like (Bagira, UKSK, X-35 et al), here is Shaposhnikov again.
Looks like costs of modernization of Shaposhnikov were largely offset by operational benefits of keeping these older hulls (with pretty much new internals) afloat and I am sure many in Russian Navy felt vindicated, and satisfied, with such a direction the fate of these elegant ships took. They were always loved in Soviet and now Russian Navies, they deployed like crazy due to their excellent reliability and sea-keeping qualities and now they finally are being up-gunned the way God intended. Just another day in Russia's "declining" shipbuilding industry and tattered economy, wink-wink.