http://forums.wow-europe.com/thread....88839577&sid=3
Since most of you won't be able to read that, summary:
There'll be a patch on June 13th (so June 12th for the US servers) and with that patch the new season will start.
Ratings will be reset to 1500.
Players that have participated in 20% of the seasons total games will receive the rewards
That patch will introduce
new high level, epic arena rewards as well as
new epic honor rewards (Verbatim translation bolded, that's exactly what he said)