The new spells such as shadoworbs and mindspike certainly look like fun, and I cant wait to try them out.
However when you look at the current beta talent tree, the future for shadowpriests in cataclsym certainly looks bleak so far.
Spirit buff: gone.
Cure disease in shadowform: gone.
VE : nerfed.
Misery (3% hit): gone.
Replenishement : provided by half the classes.
5% crit to spells: nice but not mandatory.
When you know there is room for 2-3 casters max in a 10 man raid, and that there are buffs/debuffs such as bloodlust, magic damagen taken (13%) and spell power which are "must haves",
you can pretty much forget about a spot in 10 man raids on challenging content.
Lets hope shadowpriests get some love "raid utility" wise before the release.