The option was just opened up to create premade level 80 characters on the LK
beta realms. Up till now in the beta premades had not been available, and we don't know exactly what kind of gear they'll have, but my guess would be blues. None of the high-end content has been implemented yet as far as I know; however, Daelo did say
that Naxxramas, the first raid, will be open "soon" in both 10- and 25-man editions, and will have loot in. So hopefully we'll be able to see just what they're planning on doing for the different gear in 10s and 25s. If you're in the beta, you're eligible for three premades, so get cracking
if you want to play in the deep end.