The press release says: "A single journey in Zones 2-6 will cost £1 on
Oyster if you pay as you go, compared to £3 if you use cash". I was
quite excited by this. But according to the tables, it will still cost
£1.80 unless your journey only covers 1 or 2 zones.

Or is before 7, after 7 or at weekend. I guess £1 at peak times was too
good to be true. You are right the implication from the press release is
that its all the time. Which would mean Hornchurch to Canary Wharf
weekly commute on prepay would be £14 per week instead of £27.20
weekly ticket. Ok, I'm starting to see why the £1 "peak" fare is unlikely.

It also says "All daily price caps for bus, Tube, DLR and tram travel
are reduced or frozen", but according to the PDF, the Z1-6 cap will be
increasing from £5.70 to £5.80.

Yes and the way the caps are listed on that pdf is sloppy, just putting the
footnote about 50p off