The patch went live today, and the full patch notes were presented with links to full explanations of each major new feature, as well as the Thoth-Amon's Stronghold, the new Tier Three raid instance. The much-discussed Guild Renown system was added with this patch, as was the Assassin revamp, raid loot token system, and changes to the crowd control system.
Quite a few smaller changes and bug fixes were added, and most classes received a few changes. The Age of Conan team took a look at PvP as well, making a few minor changes to mechanics, particularly in minigames.
The patch notes can be seen on the official forums, and be sure to take a look at the links included in the notes for further explanation.