What's confirmed in 3.2... so far!

Patch 3.2 will be another MAJOR content injection, and sadly nothing has been said about technical matters such as increasing the amount of instances accessible at once or reducing the lag in populated areas (think Dalaran at 19:30hrs on Wednesdays). What has been announced SO FAR is as follows:

General

• The mount system will be changed to allow training of mount skills at lower levels. This applies to class-specific travel abilities as well.
  
• A new zeppelin between Orgrimmar and Thunder Bluff will be added.
  
• Portals to the Stair of Destiny in Hellfire Peninsula will be added to Orgrimmar and Stormwind City.
  
• Players will receive the flight path from the Stair of Destiny to Shattrath City automatically.
  
• More changes to the Argent Tournament will be made, and new rewards added.
  

Raids & Dungeons

• A new instance, called Crusaders' Coliseum is added for 5, 10 and 25-player groups and raids. This is an instance similar to the Ring of Blood.
  
• Ironbound / Rusted Proto-Drakes will be removed from the Ulduar achievements. New rewards will be added with an Argent Coliseum achievement.
  

PvP

• Arena Season 7 will begin after the release of 3.2, with new rewards.
  
• Isle of Conquest, a new battleground similar to Alterac Valley and Arathi Basin, will be added.
  

Professions: Jewelcrafting

• Dragon's Eye gems will no longer be considered "Prismatic"
• Qualifying jewelcrafters who have cut Dragon's Eye gems will be compensated with Dalaran Jewelcrafter Tokens.
• The design recipes for cutting epic gems will be made available for purchase with Dalaran Jewelcrafter’s Tokens.
• Obtain raw epic gems via Prospecting Titanium Ore.
• Obtain raw epic gems via Alchemy transmutations.
• Obtain raw epic gems via spending Honor.
• Obtain raw epic gems via spending Emblems of Heroism.

Professions: Alchemy

• The Mixology benefits from Northrend elixirs and flasks have been increased
• Added a new pattern for Flask of the North, usable by players with a high alchemy skill. The recipe is purchased from the honor potion vendor. The Flask of the North increases your spell power, attack power, or Strength for 1 hour, and is usable in arenas. It is not consumed when used.
• Endless Healing Potion and Endless Mana Potion no longer usable in arenas. Amount of health and mana has been increased, and the cooldown reduced. They are still usable everywhere else.

Professions: Enchanting

• Values on Northrend ring enchants increased

Professions: Engineering

• Increased benefits from Hyperspeed Accelerators, Hand-Mounted Pyro Rocket, and Reticulated Armor Webbing glove modifications

Professions: Herbalism

• Increased healing from Lifeblood (Rank 6)
• Lifeblood now scales slightly with maximum health
• Lifeblood no longer affected by global cooldown

Professions: Inscription

• Master's Inscriptions increased

Professions: Jewelcrafting

• Dragon's Eye gems stat bonuses increased

Professions: Leatherworking

• Fur Lining values increased

Professions: Mining

• Toughness (Rank 6) provides more Stamina

Professions: Skinning

• Master of Anatomy (Rank 6) provides more critical strike rating

Professions: Tailoring

• Embroideries improved

Classes: Druid

• New art for bear and cat forms will be added.
  

Classes: Paladin

• Changes will be made to improved Holy gameplay in terms of healing.
• Exorcism will be changed.

Classes: Shaman

• Base health will be increased to be similar to other classes.

The tipsters are putting their money on "sooner rather than later" for a general release, but as yet there's nothing on the PTR so it's almost certainly not going to be this Wednesday ;-)

People are also speculating that the new "ring of blood" type instance MAY include some of our old favourites, scaled up and levelled accordingly. Think of Mr Smite and Edwin VanCleef with his bunch of rogue bodyguards at level 83... For years people have been joking about Heroic Hogger raids... Maybe the devs have been listening, and just lacking a place to introduce it?