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DON'T BUY THAT MOUNT!
Wed, Jun 10, 2009 Posted By: Wridel
Huge HUGE announcement just came out of the WoW Forums from a blue post.  Patch 3.2 will once again buff mounts.

Normal Riding:
Obtainable at level 20 (was 30)
Now costs just 4 gold + 1g for mount

Epic Riding
Obtainable at level 40 (was 60)
Now costs 50 gold + 10g for mount

Flight
Normal flying mounts now fly at 150% air speed, more then double what they used to
Now obtainable at level 60 (was 70)
Now costs 600g + 50g for mount
Can now be learned in Honor Hold and Dalaran,  and the faction discounts now apply to the price

Epic Flight
Still level 70
Still 5000g, but mount cost reduced to 100g
Faction discount applies to the training cost and mount price

Here's the reason:
The game has gotten quite a bit longer, and allowing players to get from A to B faster only very minimally decreases difficulty; more so, it decreases time spent traveling. We don't want to discourage players from trying out the game if they have not yet, and we especially don't want to discourage existing players from trying out new characters because the leveling process from 1-80 seems too daunting after flying around Northrend grabbing purples for a while. 

Whether you leveled your first character from 1-60 within a month of the game's release when the leveling curve was less forgiving, and mounts seemed like a distant dream, or you leveled a character from 1-80 in the last month with mounts a little sooner, and experience gains a little accelerated from 1-70, no one's game play experience and fun -- the reason most people would play video games in their spare time in the first place -- is at all cheapened.

More updates: Class Specific Changes

Druid
Travel Form: Requires level 16
Flight Form: Requires level 60 (150% flight speed)
Swift Flight Form: Requires level 70

Hunter
Aspect of the Cheetah: Requires level 16

Shaman
Ghost Wolf: Requires level 16

Paladin
Warhorse: Requires level 20
Charger: Requires level 40

Warlock
Felsteed: Requires level 20
Dreadsteed: Requires level 40