I call shens on much of it. But let's speculate anyway.

The post itself is badly structured. I was raging about Goblin lore before I got to the stuff which indicated the Goblins might be totally screwed to the point that they need to seek refuge.

Dorf Mage and Shammy fgj. Shammy makes little sense but I love Dorfs so I don't really care

Cataclysm will be the first expansion not to introduce a new continent, instead making use of previously unreleased zones and revamping existing ones.
Remaking Old World is something I've been thinking should be done in patches for a long time (even two or three zones per patch would take years but it would be neat to see). I'm honestly unsure how good a business move it would be (Can you imagine the number of people saying "But we've already PAID for Vanilla WoW, we want NEW content in this $30 expac!") but I'd probably pay for it, especially if these turn out to be true:

# Durotar is wrecked and apparently Orgrimmar could be destroyed. A new Orc city is rebuilt over the course of the expansion.
# Gnomeregan will be part of the expansion as well and gnomes might be able to reclaim their capital. (The last part is still unconfirmed)

Utterly epic. And seeing Old World stuff change as you undergo quests would be neat as well. Still don't see how they'll sell this to the public, I guess they'd focus on the new content and say "We're also changing Old World stuff a lot so your alts will have a fresh experience?"