2. Refined Character Models
From what I've read, these have been a long awaited and much needed improvement. Given that the models of the original races (Human, Dwarf, Night Elf, Gnome, Orc, Undead, Troll, Tauren) are nearly 10 years old, it's no surprise that they are well passed their best-before date. The new models we've been shown so far look great, and they still manage to retain the quirky feel of graphics that WoW encompasses. With the new models also comes improved animations, and reports from those who have tested these out say that it certainly adds to the feeling of the gameplay. And who'd of thought Gnomes could look even more adorable?