Game Update 12 is definitely about convenience. SOE's adding the option to purchase additional character slots for those players whose altoholic nature has pushed the limits of the character select screen as far as it'll go. The update is also adding teleporters to give players an additional 15 seconds of leeway when trying to get into a Boss Alert after the door closes.
As expected with any big update, this patch has plenty of bug and balance fixes as well. SOE is anticipating a four-hour downtime to deploy GU12 to the servers.
[Update: SOE has revealed that it is postponing GU12 "due to a serious technical issue." The post states that the team hopes to release the patch tomorrow.']