From a Cedarville Graduate's point of view (2003), It seems that these most recent controversies SEEM to be a delayed reaction to the earlier controversies surrounding "truth & certainty."
At that time, events surrounding the dismissal of 2 bible proffessors caused many to think Cedarville was moving in a liberal direction.
Now, it seems many thing they are moving back to a fundamentalist direction.
That said, I haven't heard or read ANYONE who actually seems to know what's going on...rather all we can do is make deductions based on a few snippets of infromation (professorial let go, people resigning, philosophy major being cut). They also cut the physics major by the way, so there's at least SOME money reasons behind them. They are still going to offer philosophy CLASSES, just not the major. (and with so many Ph.D's unemployed or underemployed...it might not be a bad move.)
I personally know lots of cedarville grads, some of which still live close to campus, a few who work there in offices like career services...and there's just not enough information known to go around pointing fingers or making huge statements about the direction of the college.
That's my view, for what it's worth.
I will say that, at my time at cedarville, and afterward, my biggest concerns were never about theology...it always seemed pretty straightforward...if decidedly dispensational, unfortunately. My concerns were in the worldliness of many students, who even at a christian university seemed to not care about honoring God with their lives. I'm not saying it was the majority of the 3,000, but enough to easily notice. I suspect it is like that today as well...There are still a lot of great people at cedarville, perhaps some not-so-great.
...and one more fact for those interested...for the last 2 years at their worship conference, the feature guests leaders have been worship teams from large, charismatic churches out west, one of which has a pastor I'm pretty sure teaches a from of prosperity Gospel (Robert Morris @ Gateway Church).
Interesting that for a worship conference put on jointly by Cedarville and the SBC of Ohio, they felt the need to find worship leaders form charistmatic, non-baptist churches 2 years in a row...(They are having Travis Cotrell next year, who is the worship pastor at a baptist church in TN.)