The season 3 balance changes are not coming with the end-of-season-2 patch. That is to say, FoN removal, new items, and pen changes. There's still a lot of previewing to be done.
I have literally no idea when they'll be coming--I cannot speak to that. I just don't want you guys to hype up a bunch of expectations and then be disappointed.
THE MOST EPIC PATCH ROUND-UP of EPIC PATCH ROUND-UPS!!
Please post your thoughts on any changes you like and/or dislike:
General:
1. Patch delayed until further notice
2. Headmistress Fiora skin probably remaining unchanged (BOOOO!)
3. Zed being released (OP of course, nerfs to come later)
4. Teemo getting deleted from the game (not really... but wishful thinking)
Summoners Rift:
1. Jungle getting reworked (somewhat).
2. New items to have fun with (and some others removed)
3. Teemo now becomes a movable ward which attacks and places more wards! (refer to above section)
Twisted Treeline:
1. Bruisers OP
2. Bushes removed from around the Relics
3. Bruisers still OP
4. Blackfire Torch viable now (contains spell pen and burns from MAX health rather than CURRENT health)
5. Bruisers remain OP
6. No wards, except Teemo, so now he becomes a common pick on TT (refer to above section)
Dominion:
1. Still no ranked
2. Hextech Sweeper rework makes it a difficult choice (spell hit reveal removed)
3. No wards still, so Teemo will still remain a popular choice (although you can get rid of these by walking over them)
To come at a later date:
1. Sustain getting harder to come by (FoN removed)
2. Armor and Magic penetration percentages applied BEFORE flat reduction (buff to those who use these stats)
3. AD casters get a buff with some items (and refer to pen changes)
4. APs getting more difficult to counter as tanks and bruisers (refer to FoN removal and spell pen section)
5. Tear of the Goddess to become relevant (maybe).
Have I forgotten anything??