Last week Funcom introduced some new content:
http://www.ageofconan.com/news/shadow_of_vanaheim_and_anniversary_celebration
Although it looks like an anniversary quest, it's not! You have to buy it in ingame store and pay for it.
To start the quest, you first buy the normal or collector's edition in the ingame store. Relog and you will have a scroll in your /claim. Claim the scroll and click it in your inventory to start the quest line. You can travel to the new area via Conarch.
Is it worth buying? Well, that's hard to say. I had enough points myself from subscription to buy the normal edition and didn't have any other purpose for these points, so I bought it.
I'm not sure if there are any updates planned for the area. So far there is 1 faction you join and quest for. The faction merchants are in Conarch so you can check them out before you buy the expansion if you want. The items are nice but not better than other stuff you can get.
The whole area is solo as far as I've seen. So no group quests and also no other players around. The quests are nice with some fun tactics to find out, but also after 3 runs there.... a lot of repeating. There is basically one main quest line, you repeat every time you travel through the area. Besides this main quest line there are some smaller quests you can pick up, also some repeatable and some one time only quests once you progress in faction points it seems.
The main quest line gives you 2 rare tokens every time you finish it. There is a hm possibility that gives you 4 tokens. I'm not sure how to trigger that yet though, think you will have to kill certain bosses before end boss and maybe some other things.
There are also still some bugs, which will probably get solved sooner or later. One of the bosses doesn't spawn (at least not to me). Also I never see any exclamation marks for quests to pick up, so I might have missed some quests.
I don't want to spoil any fun in finding out tactics, so I'm not saying anything about that yet. If you want to know, you can ask me though :) I'm not 100% sure of it all, but I managed to make my way through the area so I can at least give some tips if needed :)