The August (World Championships) FAQ has been posted:
get it here.
Significant changes are:
Figure Corrections
Mage Knight: Dark Riders Figures
• R-064 Rage Hammer: Add the following sentence to the beginning of the rules text: Riders and warriors that can become riders cannot wield Rage Hammer.
• R-069 Storm Maul: Replace the second bullet point with the following: Deal 3 damage to a single opposing figure in base contact with the wielder.
• R-076 Lance of Light: Change the second section of the Optional paragraph of the rules text to
the following: When the wielder succeeds at a close combat attack against a single opposing target figure with the Life Drain, Necromancy, or Vampirism special abilities or the Revenant or Vampirism subfaction abilities, roll one six-sided die.

Mage Knight Figures
• R-027 Karrudan’s Bow: Replace the last sentence of the rules text with the following: If the wielder is eliminated by an opposing figure, Karrudan’s Bow deals 4 damage to all figures within 12” of the wielder.
• Domain D-012 Fen Swamp: Replace the last sentence with the following: Fen Swamp is cancelled by the Grasslands or Mountain Pass terrain domains, or the Cold Snap weather
domain.
• Domain D-015 Wylden Forest: Replace the last sentence with the following: Wylden Forest is cancelled by the River Valley or Fen Swamp terrain domains.

Mage Knight: Dark Riders Rules Clarifications
Mounted Bound
Add the following sentence to the end of the Mounted Bound section on page 4 of the Mage Knight: Dark Riders rules:
Only the rider may use special abilities which require a ranged combat action during the resolution of mounted bound.

Mage Knight Rules Clarifications
Measuring
Add the following sentence to the end of the Measuring section on page 6 of the Mage Knight rules:
When measuring, ignore all vertical distances; use only the flat, horizontal distance on the battlefield between the two points.

Proficiencies
Add the following section to the top of page 7 of the Mage Knight rules:

Proficiencies
Proficiencies are additional abilities that a warrior may use; a warrior is never forced to use a proficiency available to it. The proficiencies available to a warrior are determined by its combat value types or its unit type. Announce the use of a proficiency when the appropriate action is given to a
warrior.

Explanation: This entry replaces and clarifies the change to the Glossary entry for proficiency provided last month.

Constructed Terrain in Game Play
Add the following paragraph to the end of the Constructed Terrain section on page 17 of the Mage Knight rules:

Mage Knight Questions and Answers – July 21, 2004 edition
A warrior on top of a constructed terrain feature with an access point (for example, a Wooden Watchtower) is always in base contact with the access point. Warriors in base contact with the same access point are in base contact with each other.

Mage Knight FAQ Proficiencies

Mounted Bound
Q: *The rider in my cavalry unit has the Overwatch ability. I give my cavalry unit a ranged combat action to activate Mounted Bound, and choose to activate Overwatch at the same time. How do I resolve the action?*
A: If two abilities occur at the same time, and one says to do something while the other says not to, the “not to” wins. In this instance, move the figure using the mount’s speed value, and give the cavalry unit an Overwatch token, but do not make an attack; resolve the attack at the beginning of your next command phase.

Soaring
Q: *If I move my figure from soaring level to ground level, or vice versa, is the figure considered to have moved if the figure’s center dot is in the same horizontal position?*
A: No.

Relics
Shadowplate of the Realms, R-111
Q: *My warrior is wielding the Shadowplate of the Realms and the Hammer of the Realms. An opposing figure wielding Relicbreaker misses my warrior with a close combat attack. Do I remove both relics from the game, or just one of them?*
A: When an effect causes a warrior to remove its relic from the game, all relics it is wielding are removed from the game.

Special Abilities

Cursed
Q: *What actions made by figures with the wand attack type will cause damage to be dealt to a warrior with Cursed?*
A: Any action that causes a Cursed warrior to be moved, to be dealt damage or be healed of damage, to gain or lose action tokens, or to be the target of a spell will cause 1 damage to be dealt to the Cursed warrior by its Cursed special ability. Actions given to the Cursed warrior with the wand attack type will not cause Cursed damage to be dealt to itself.

Subfaction Abilities
Nature’s Ally
Q: *My Wylden Host warrior attacks another Wylden Host figure who is occupying hindering terrain. Does the target get the +1 to its defense value?*
A: No. Targets of the ranged attack treat hindering and concealing terrains as clear terrain for the attack. This means that the target treats the hindering terrain that it occupies as clear terrain, and thus does not get the +1 to its defense value.

Revenant
Q: *I reanimate a figure using Revenant during my command phase. The reanimated figure is eliminated before my end phase. Is the figure removed from the game?*
A: Yes.

The Rage Hammer and Storm Maul changes are huge. HUGE.

I think I like them.

I agree, PK.
And the KBow has been a LONG time in coming - it should have been revised many months before now!

Some really large changes suddenly. The watchtower one fixes the problem of unnaccessable warriors up there, too, right? (will have to read again).

I think they neutered storm maul a bit too much. I don't see anyone using it for thepoints anymore. So did nephera pkes value just drop now with the rage hammer nerf?

The changes to the Rage Hammer were unforeseen and I am not too excited about. With the vast amount of weakness the riders already face, removing the use of this relic for riders just seems wrong.

Oh well, there went my fav. combo, Pike with Rage Hammer on Sky Dragon.

-sigh-

I like the K-Bow change, but I'm curious. If Tazia is soaring with K-Bow and I kill her Pegasus and she plummets to her death, does the Bow go off? The opposing figure didn't kill her, the fall did.

Wow. Just wow. Been a while since I said this, but 'Yea WizKids!' Hopefully this 'fixing mistakes' thing will become a long, fruitful trend.

I held off buying a storm maul because I felt it would be changed. I am glad I did. I have to give WizKids kudos for these changes, they are aggressive and clearly demonstrate their attempt to correct potential game imbalances based upon player input. Unlike 2 years ago, WizKids is quickly addressing game issues and promptly resolving them. I really like that. Now if they would just change the rule for skittish mounts (allowing a rider who was knocked off the mount an attempt to remount before the mount runs away). :)

Soaring
Q: *If I move my figure from soaring level to ground level, or vice versa, is the figure considered to have moved if the figure’s center dot is in the same horizontal position?*
A: No.

So, does this mean if I move my figure from soaring to ground or vise versa as long as my center dot does not move, it does not count as a move action? This means I can move from soaring to the ground, then surge?

Hmm.....

That is sad what they did to storm maul. In my opinion. Maybe it was too good, but this is just too much of a change for it.

One thing to note, though, you will almost never see the K-Bow explode anymore. If it does, you can count on the attacker being prepared for it (barring an errant critical hit).

Unlike Spirit Armor, K-Bow is next to useless on a demoralized figure (only the threat of healing the wielder gives it any value) and such figures can successfully be ignored. Even those figures without demoralized can be dropped to ineffective clicks, although they do remain something of a threat. So, you'll see K-Bow wielders dropped to those levels, and then left alone. If healers are around, then you can deal with them instead of worrying about the 4 damage.

Admittedly, you might be able to make use of opponent's Venom and similiar abilities like Inferno. Still, a K-Bow explosion is going to be very rare except in the end game. Even then, I expect as often as not you'll see capture attempts on K-Bow figures if they have to be dealt with in the endgame.

The real question, though, is will the relics still be worth their point costs after the changes. Karrudan's Bow might be, 4 damage is exceedingly rare on bow figures (with only Khan Rava having it naturally) and paying 40 point for it might be considered worthwhile.

Rage Hammer is definitely still worthwhile, although I think a change to having it deal 3 damage instead of changing the damage value might have been more interesting. Even so, now I expect you'll see non-riders using it. As the game was now, there was no reason to not put it on a rider if you were planning on using one.

Storm Maul is questionable because of it's huge point cost. Still, it will definitely be usable in combination with water domains and in water heavy scenarios. Plus, 3 autodamage to anyone in base contact with you is still a very useful ability. Only time will tell if this gets moved to the "never played" relics.

All these changes are very welcomed. Everything that needed to be addressed has been addressed. My kudos to WK.

Yes, changing level still requires a move action.

An interesting corollary of this is that you can change levels and change the direction of your front arc without being considered to have moved, as long as your center dot doesn't change position.

I forget why this FAQ question was important, though. I do remember long discussions on the official forums about it, though.

Mageknight got butchered.

K-Bow, like Spirit Armor, is still highly useful for it's "secondary" abilities.

Storm Maul might be a bit pricey now, since opponents will probably do whatever it takes NOT to base the wielder.

Rage Hammer is good. The ability to kill any figure in the game, with one action (the Pike/Rage Hammer/EF Sky Dragon MC/C combo) WAS too powerful. In lieu of making MC/C a thing of the past, at least this nerfs one of its biggest combos.

Is Neph Pike useless now? Heck no - how about slapping Paragon's Sledge or Bracers of the Giant onto her and doing 8 damage (5 from Pike, 3 from her Dragon) to a single figure on a MC/C action? That'll certainly mess up just about any figure in the game that it doesn't outright kill.