Bornakk has announced on the forums tonight that the honor points wipe they were going to do before Wrath of the Lich King will not be happening after all.
Once again for clarity: honor points and PvP tokens will not be reset when WotLK is released. According to a post by Zarhym today, Arena points and teams will still be wiped immediately prior to Wrath's release.
This is a very interesting change of policy. Blizzard announced last week that all honor points and tokens would be reset. Since that announcement, there has been significant outrage by many players that have saved up large amounts of honor and tokens. With this change players will be able to stockpile points and purchase level 80 PvP gear. However this gear will be "significantly more expensive" than current level 70 gear.
We'll bring you any updates that develop on this breaking news.