A bit of a nerf ... yes, probably.
Not as much nerfing as I would like. Where's the good ol' Blizzard spirit of "TO THE GROUND, BABY!" when you really need it?
US and EU threads on Blizzard's first proposals are here:
http://eu.battle.net/wow/en/forum/topic/17610461417
http://us.battle.net/wow/en/forum/topic/20742234402