I don't have a problem with the loot thing for the most part. I do have a problem with the lock out change though. I've been playing since vanilla and this is by far the worst idea blizz has had. I don't want to raid 2 nights a week and then not have anything else to do the rest of the week. I love raiding, its why I play. So maybe they want to encourage us to go back to pvp, but pvp has been broken for a long time.
And by the way, just from the blue post, it has in fact caused a cataclysm on my server(hehe). Guilds that have been around awhile have already announced they are done with raiding hardcore til cataclysm comes out. And so it begins...