Patch 1.2.0 has gone live in the North American servers.
Included among the main features:
1) Battle.net Chat Channels have been added! Players can now join others in both public and private channels. If you want a starter channel to being chatting, check out channel:
GosuGamers on both US and EU servers.
2) A new Master League has been added! This league now represents the highest tier of players.
3) New customizable hotkeys feature added to the options menu where players can edit their building's and unit's spells and actions.
Balance Features Added
-Protoss
*Hallucination research time decreased from 110 to 80.
*Observer cost decreased from 50/100 to 25/75.
*Phoenix build time decreased from 45 to 35.
*Void Rays now deals 20% more damage to massive targets. Flux Vanes
upgrade has been removed from the game a well.
-Terran
*Repairing SCVs now assume the same threat priority as the unit they’re
repairing.
*SCV construction movement has been made more consistent.
Links
Battle.net - Complete list of changes (Source)