Sacred Shield - Cannot be on more than one target at any one time.
Ouch. So much for raid damage mitigation. Back to single target healing, the lot of you!
Infusion of Light - No longer has a chance to reduce the casting time of Holy Light, but increases the the critical chance of your next Holy Light by 10/20% instead. Moved to Tier 10.
Double ouch. This seems to be a PvP nerf to me, and others are crying out the same on the forums. Without addressing it directly, Ghostcrawler states that "several of those changes were made for PvE reasons". He was, of course, referring to Sacred Shield, considering that one of Blizzard's concerns was the increasing number of mitigation abilities going into Ulduar. Losing half-a-second Holy Lights will be severely palpable to Holy Paladins in Arenas.
[UPDATE: With Aura Mastery's old effect made baseline, the new activated ability talent is all kinds of awesome - Now makes anyone affected by Concentration Aura to be immune to Interrupt and Silence mechanics and increases the effectiveness of all other auras by 100%. Lasts 10 sec. 2 min cooldown.
This is a fantastic ability that compensates a little for the other nerfs. Because it is a party or raid-wide buff, this is extremely powerful -- imagine the improved versions of Retribution Aura and Devotion Aura working at 200%. This makes Paladin synergy simply too good. The 2 minute cooldown is about right for PvP, although a 12 second duration might have been more appropriate. It's an excellent talent on paper, I can't wait to see in practice.