It will also mean a massive rise in the availability of human eggs for turning into embryos, which in turn will mean the ability to be much more selective about which embryos to to implant during IVF.
Currently egg harvesting is such an arduous process that embryos can only realistically be selected for viability and a handful of generally fatal diseases. When you are choosing 1 out of 7-10 embryos, you can't be all that picky. But between having access to hundreds of eggs, sperm obviously not being an issue, the ever decreasing cost of genomic sequencing, and the ever increasing knowledge of how specific genes relate to traits, parents undergoing IFV could start to apply many selection criteria. That wouldn't be genetic engineering in the classic sense, nothing would be available that wasn't in one of the parent's DNA, but it would get a lot of the way there.
Edit: If I was going to be beaten to the punch by anyone on this subject, I'm happy it was gwern.