The new expansion has been announced: Mists of Pandaria!
http://us.battle.net/wow/en/game/mists-of-pandaria/New Race (playable for both Horde and Alliance) is, indeed, the Pandaren.
New Class - Monk
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Early reports show that Wow 5.0 is going to be a completely different game:
Each class will have ONE talent tree, with a total of 6 talents you can choose at level 90 (one talent every 15 levels). There will be no standard talent selection; the whole trees are just choices of which special abilities you want. At level 10, you choose your spec and as you level you automatically get that spec's special abilities. Talents are optional powers, now, to customize your character.
Ranged slot is REMOVED for everyone but hunters, who will have no minimum range and NO MELEE WEAPON!
Resilience will be a baseline stat. PVP gear will add to it, but you'll have a fighting chance to get into PVP combat without being decked head-to-toe in PVP gear!
Pets will be able to fight in Pet Battles! Pokemon in WoW is coming!
Account-level achievements and more account-bound items.