The previous intentions of Blizzard were to release the new patch within the first week of January, as posted on December 17, 2010. Though, they have located some errors by testing the patch on the PTR, and therefore set a new release date.
The official statement by Blizzard reads, "After additional testing and feedback from the community on the PTR, we’ve identified and fixed several issues and are now targeting next week for patch 1.2. We will update this thread should there be any further delays."
Additionally, the German member of the community crew, Ulvareth, said today, that Blizzard does not intend to reset the ladder with the release of patch 1.2. Much more, they look forward to restore the ladder with the end of its season 1. More details will be revealed well enough in advance.
Links
Battle.net - Source
