So it seems our old currency is for the chop when 4.0.1 goes live, no longer will I be able to look at my Badge of Justice count to fondly recollect those glory days of Karazhan. Details are:
The following items are immediately converted to gold:
* Emblem of Heroism = 5.5 gold each
* Emblem of Valor = 5.5 gold each
* Emblem of Conquest = 5.5 gold each
* Badge of Justice = 1.833 gold each
Your New Honor Points total will be the sum of the following amounts:
* Old Honor * 0.024
* Old Arena Points * 0.85
* Battleground Mark of Honor * 2.976
* Wintergrasp Mark of Honor * 19.08
* Stone Keeper Shard * 1.6
* Venture Coin * 3
* Spirit Shard * 1
Your Justice Points total will be equal to (Emblems of Triumph + Emblems of Frost ) * 2.75
Again, the softcap for both Honor and Justice conversions is 4000 points. This means that if a character converts to above 4,000 points, it will not be possible for them to earn more until they fall below the 4,000 cap.
A hardcap will be implemented in a following patch before Cataclysm's release. At that time, any excess points above 4,000 will be converted as follows:
* Honor points above 4,000 are converted to gold at a rate of 35 silver per point of Honor.
* Justice points above 4,000 are converted to gold at a rate of 2 gold per point of Justice
Some interesting facts about these numbers:
The cap of 4000 Justice points is 1454 Emblems of Triumph + Frost, which is quite high and I am not likely to be falling foul of said cap. Now you could convert any excess into Valor and get 5.5 gold per Valoe, however you can also buy various BoE bracers for Valor and if you can flog them for 1k, make 16 gold per Valor.
What is interesting is people are currently buying Cardinal Rubies and the like for 20 and 10 Emblems of Heroism and selling them on the AH. Given the emblems are now worth 5.5 gold each, that means a Cardinal Ruby or King's Amber has to sell for a minimum of 110 gold before you are making a profit (over just waiting for 4.0.1), and Ametrine, Dreadstone and Eye of Zul need to sell for 55 gold. I am not sure Cardinal Rubies do sell for 110 gold on Aszune, so it may be worth just converting Triumph and holding onto the Conquest.
What Blizzard haven't said is what is available when Cataclysm launches for Justice points. These are the lower tier points and it may be that there are no level 85 epics available for them, so they only become useful when the second level of Cataclysm raiding is launched. In the original announcement it did not say you lose your lower tier points, so keeping Justice points could be a good way of preparing for the second tier of Cataclysm raiding now. Having said that, the first tier of raids were easy enough in Wrath that we were all geared out by the time the second tier appeared, so it is tempting to cash in come 4.0.1.
The old PvP honor cap of 75k works out to be 1800 Honor points, given the new cap is 4000, Blizzard are effectively increasing the honor cap by more than twice.
One WG mark of honor will get you 19.08 Honor points. At the moment on live 9 marks will get you a Commendation which then gets 2000 PvP honor, 222 honor per mark. In the new system 222 PvP honor is only 5.6 Honor points, so best hold on to those WG marks.
One Stone Keeper Shard is worth 1.6 honor points. Again 30 will buy a WG commendation and 2000 PvP honor, 66 honor per shard, which in the new currency is suspiciously 1.6 Honor points.
Finally once the hard cap is added, Justice points above the cap will get you 2 gold per point, which works out at 5.5 gold per Triumph or Frost, the same rate you will get in 4.0.1 for lower Emblems. So there is no harm in waiting if you somehow have over 1454 Emblems of Triumph, but if you have less and want some quick (but not very much gold), trade those useless Triumph down to Conquest and wait.