3.2 PvE

Emblems are being homogenized into a two tier system similar to that in TBC. All older content, heroics through to 25 Ulduar, will drop Emblems of Conquest. In a way, it's a good thing, in another, it's not. It means that slow levelers and alts will be able to gear up faster. Guilds still farming launch content will be able to catch up. And, of course, getting a decent Heroic group will be possible. All this will benefit the community as a whole, better gear for everyone means less carrying, less failure, and less time spent in a run. Inversely, even people who can't get their shit together enough to down a Naxx boss will be wearing at least two pieces of tier 8, and plenty of equivalent gear. Which means, every man and his dog will be trying to PuG the Coliseum. Overall, a good change. The only thing missing, is the ability to trade Emblems of Heroism/Valor for Conquest, since they'll more or less be defunct.

As for loot in the Coliseum, I think it's safe to assume that the 10 and 25 man iterations will both drop tier 9 and equivalent, with the 25 man dropping more. Which of course, means the Heroic's will drop tier 9.5, balancing the difference between running a 10 and a 25 man raid, without upsetting the "hardcore" raiders by making it truly even.

Overall, it will balance things nicely, even with the inherent problems. Maybe the problems will sort themselves out early on in the patch, only time will tell.