To me, patch 1.2 seems to be "the content that was supposed to be in the first release, but wasn't finished in time". I personally look forward to the update. I think it brings good and interesting stuff to the game, but not sure whether it does anything to the two main problems: tons of bugs and lack of interesting end-game content. Maybe I'm afraid the coders focus on the nice-to-have list, while the list of actual bugs and must-haves is still a long one.