It appears that dataminers have discovered the phrase "WoW Veteran Edition" and some associated dialog in the recent PTR edition of WoW. This is exciting news, because it means that WoW may very well go "more free-to-play." Here's the deal - it's probably going to happen, and there is actually more to it than just another free-to-play mode. 

So, Bashiok said a little bit ago that Blizzard is looking into a way to let players trade purchable in-game items that can be turned in for game-time, sort of like PLEX. One of the critical things to note about PLEX like systems is that you have to have a subscription to start with in order to earn PLEX. Once you have a subscription, you can then earn in-game gold/ISK/whatever and then purchase the token from another player either through direct trade or an in-game marketplace. 

So this is what I believe is going to happen - the veteran edition is going to let suspended accounts continue to play the game, but put heavy restrictions on what you can and can't do. I suspect the restrictions are going to revolve mostly around using the dungeon finder, the raid finder, the PvP match finder (the group finder in general), most forms of chat, guilds (unless you're already in one), etc. 

So, while you can still logon your character and farm garrison points or whatever, odds are you're not going to be able to do much. It may even extend to the point that there is a level cap or this could be the new "scroll of resurrection" that just lasts longer, so while you get free game time from another player, you can't do much with it. 

Now, some other things to consider. WoW is currently doing rather well for itself with Draenor's launch, but it could probably do better by tapping into the market of players who are bearish about paying a subscription. Younger players especially, with limited access to regular funds and a glut of F2P titles might not see WoW as attractive, but purchasing a box copy at your local big box store and playing it for free, ala Guild Wars 2 may be very attractive to them. 

There is also the eSport angle - Blizzard is adding in-game tournaments in soon and as anyone knows, free-to-play is the major boon of eSports. For instance, SMITE, League of Legends, and even Heroes of the Storm are free-to-play, so if they're going to want to attract major league talent, they're going to need an option for players to play without paying. It's just the harsh reality of life. 

Really though, I fully expect this to be a method for Blizzard to merge together the idea of a PLEX-like system and an expanded free-to-play system that may be very similar to SWTOR. I can easily a see a situation where the expansion cost lets you play the content, but if you want anything more than questing, leveling, and battling some pets you would need to subscribe. 

Considering the dataminers have found dialect about "Veteran Edition accounts cannot join guilds without an existing character in the guild." in addition to "Veteran Edition cap reached." These indicate two things, there is a level cap and that similar rules to current trial players will be in effect. 

I will solidify my theory as follows: I think that veteran editions will be players who are "free-to-play" but have purchased the game, but their time has expired, and will have probably limited access to all Mists of Pandaria characters and below, allowing most purchased expansions to be played. Additionally, I theorize the "cap" could be anything, not specifically a level. Considering the reworking of "trial" and "veteran" edition through the datamined language, I assume the current F2P model will be the "trial" edition with heavy limitations, and the "veteran" edition will have fewer restrictions, but maintain similar limits. 

We won't know what the veteran edition is until Blizzard announces it, so stay tuned to Ten Ton Hammer as we keep a watchful eye for any changes to the WoW F2P model and various editions.