The patch notes are here but this is the relevant bit.
Conquest Points are now purchasable from the Valor Quartermasters at 250 Conquest Points per 250 Valor Points.
Honor Points are now purchasable from the Justice Trade Goods vendors at 250 Honor Points per 375 Justice Points.
Justice Points are now purchasable from the Honor Trade Goods vendors at 250 Justice Points per 375 Honor Points.
Those who played during Burning Crusade will remember what happened when they added gladiatorial armor and weapons that was above the general content level. Players were forced into PvP to get gear, especially weapons, to enter raids and heroic runs.
The PvP gear I had to grind for in BC in order to go to Mag's. My gloves went missing!
Now by grinding heroics you earn Valor and justice points you can turn around and buy PvP gear with that will upgrade your PvE gear. The biggest example of this is in weapons, with the offhand fist and daggers being the worst offenders.
Fist Weapons: Vicious Gladiator's Left Ripper (agi), Vicious Gladiator's Left Render (str) are available for 950 points. You get 980 points in a week. So with dedicating 1 weeks efforts you get a level 359 weapon. here is a quick comparison between something else you might get in a heroic, the Fist of Pained Senses, a 346 agi fist weapon.
Resilience rating has 0 value in PvE so Ill be skipping it in this. So the VGLR beats the FoPS in every way except for some haste. But the base damage is such a vital component in all special moves it makes that not even noticeable in performance.
This wont lead quite where the BC road lead but it has some ugly possible outcomes.
Raiders forced to grind for epic weapons before raiding. Even the Zandalari dungeons don't offer as stout of loot. That might be the plan since Blizzard has said we aren't well geared enough for the Firelands and they plan to release the Firelands soon.
For now, I suppose Ill grind up some weapons. 1 week for an offhand, 2 for a 1-h, and 3 for a 2-h/bow. I just hope Blizzard planned for the effects of this change, because their going to be deep.
Its been pointed out to me if you run a random Battleground each day you get an extra 25 conquest for winning a match. So an extra 175 points. Far slower than the conversion but it might add that extra bit you need.