Only including the changes for easier reading. Source: http://www.worldofraids.com/v2/

Here are the changes:

Priest
* Prayer of Mending now has a 10 second cooldown.
* Circle of Healing mana cost reduced by 25%. (Source)
* The effectiveness of "Fade: Rank 7" has been increased by approximately 25%.
* The damage absorption of "Power Word: Shield" added by the caster's bonus healing has been increased to 20%.

Shaman
* The bonus of the "Wrath of Air" totem now applies to healing spells as well.

Warrior
* Increased the health bonus from "Commanding Shout" by 50%.
* "Improved Battle Shout" talent renamed to "Commanding Presence" and now increases the health bonus from "Commanding Shout" in addition to increasing the melee attack power from "Battle Shout".

* Tempest Keep: Arcatraz
o The damage dealt by Wrath-Scryer Soccothrates' "Immolation" and "Knock Away" abilities has been reduced.

* Auchindoun Shadow
o Cabal Zealots are now more threatening while under the effect of Shape of the Beast.

* Tempest Keep: Botanica
o Sunseeker Gene-Splicers' Death and Decay now deals significantly less damage and casts less frequently.
o Mutate Fleshlashers now deal less melee damage.
o Mutate Horrors and Fear-Shriekers now have less health.
o Sunseeker Researchers will now cast shocks less frequently.
o Sunseeker Chemists are now Paladin type instead of Warrior type.
o The Blue Seedlings in the High Botanist Freywinn encounter now slow players instead of immobilizing them.
o High Botanist Freywinn will now plant seedlings at a slightly reduced rate.

* Tempest Keep: Mechanar
o Gatewatcher Iron-Hand now wields a Jackhammer.
o Gatewatcher Iron-Hand is now more vocal when perfoming his Jackhammer attack.

* Karazhan
o The use of Divine Shield, Ice Block, or Cloak of Shadows will no longer prematurely detonate the Shade of Aran's Flame Wreath.
o Restless Skeletons will now summon a player if they are unable to path to that player, and deal more melee damage.
o The cooldown of Bellowing Roar has been adjusted to be a more consistent value.

Nice to see Priests get a couple bones thrown their way, and huzzah for the Shade of Aran Flame Wreath changes.

This is intriguing:
* Increased the health bonus from "Commanding Shout" by 50%.
* "Improved Battle Shout" talent renamed to "Commanding Presence" and now increases the health bonus from "Commanding Shout" in addition to increasing the melee attack power from "Battle Shout".

That'll be quite a bit more HP.

Yeah with the huge abundance of +healing gear now in TBC it should scale fairly well. Would actually give me reason to spec into Imp PW:S.

Shield will always be a pre-pull buffer for as many people as you can spam it on for AE/high damage type fights (Netherspite, Aran). After that it's best use is still in PvP and will continue to stay there. It is too mana inefficient to use in endurance type fights, but don't get me wrong it does have a bit of an "Oh Shit" ability to it.

I know we all say this but I'd love to see our instant casts scale as mages do (43% I think? not sure). As well a new 41 point holy talent, circle of healing is a joke.

:*(

I still really don't think it's enough scaling on PW:S, but hey, it's a start. I'd like to see it scaled to where 1400 healing would add enough damage absorption to absorb a single hit in Heroics if I cast it on the MT, but meh. Might be a bit TOO much for PvP.

I think that is maybe a bit over the top, but it should really work better in PVE.

Its back to the old wishful thinking that blizzard would just create skills so they work differently in pvp than in pve, same goes for gear, instead of just trying to balance it all out hence turning it into a mixed bag of everything that never truly delivers.

There, there, my fuzzy compadres. Your notes will come.

Said that bears aren't being changed back to what they were. At least Pallys aren't getting the nerf bat (yet at least).

PW: Shield at 20% will help mitigate the Mending change.

The PW:S change is cosmetic at best, one more absorbed rogue offhand hit will hardly change anything, nor will it make any difference for PVE either. 10 seconds on PoM is more reasonable than 20, but it still doesn't help priest 5v5 survivability at all, for 2v2 / 3v3 it will probably make a difference though.

With 1500 +healing gear in pve it will give extra 150 absorbion. It really makes no difference for tank healing. It should not be difficult to buff it for pve, for example add some short duration (5sec maybe) buff to it, that prevents crushing blows landing on a tank.

For pvp PW:S is not a solution. With arena gear at 1k healing, almost 11k hp and blessed resillience build I have been assist trained on 5vs5 match in 5 seconds when using preshield + prayer of mending + shield before my death. Extra 100 hp per shield really does not make any difference for our survival.