Square-Enix, the 1.20 patch for Final Fantasy XIV contains a "cornucopia of new content, gameplay enhancements, system overhauls, and more adjustments than you can wave a moogle at!"
Flowery language aside, the update does seem rather substantial given that it features a refined party search mechanic as well as the ability to purchase items directly from the market ward's item search. There's a new achievement system too, and it's stuffed with upwards of 300 tasks to complete, many of which lead to exclusive gear and items.
Last but certainly not least, there's an extensive amount of class reform contained in the patch, and you can read the finer details on that at the official FFXIV forums.
[Source: Square-Enix email blast]