Let me start off by saying the Diablo 3 1.0.4 patch is going to be a major improvement to the game. A few features that this patch will include (and I will go into more detail below) are; System changes (the way the game works), legendary buffs (item buffs for the legendary items), character improvements (skills etc.) and the Paragon System.
The 1.0.4 patch/update was pushed out on the 20th Aug 2012 and was available for EU servers today certainly. We sincerely hope that this evens out the game play allowing players to progress through the game at a normal rate and not have to depend on the Auction House to buff your character enough to proceed.
Read more about each of the new changes;