Patch 5.3 goes Live this week and here are the notes:
http://www.mmo-champion.com/threads/1300488-Patch-5-3-PTR-Patch-Notes?p=21180155#post21180155
There's a lot of change in there so spend a bit of time reading and updating yourself! Noteworthy is the 'Return of the Voidbinders'. 500 Valor Points now gives an upgrade of 4 ilevels to your item (max 8 ilevels per item), so don't spend all your Valor before the reset!
QuoteThe Voidbinders are back in capital cities and shrines.
PvE Item Upgrades
Items upgradable by Valor now require 250 Valor to upgrade per 4 item levels, for a total of 500 Valor for 8 item levels per item. This is retroactive to all items that use Valor.