Most of you already know this, but to make sure it's not news to anyone ...
Everyone’s going to login naked!
All armor, weapons, items, etc. on your character, in your bags, and in your bank will all be un-attuned. Further, your equipped (not necessarily appearance) jewelry, weapons, and armor will see their adornments ‘pop’ off. All equipped gear and adornments will appear in your Overflow slot.
(I'm so glad I gave up on stuff I was holding on to, and transmuted it all)

Here is the link to a lot of the information
http://eq2wire.com/2011/08/22/game-update-61-goes-live-tomorrow/#more-10763Mostly, however, I couldn't wait to post this:
Game Update 61 will provide some respite from the Thurgadin and Ry’Gorr faction grinds on your alts. From the Game Update 61 Test Notes:
> A Token of Coldain Loyalty can now be purchased from the Coldain faction merchant once your character has reached +40,000 faction. This token can be traded to any alternate characters on your account and will set that alternate character to +40,000 [Thurgadin] faction.
>> A Token of Ry’Gorr Loyalty can now be purchased from the Ry’Gorr faction merchant once your character has reached +40,000 faction. This token can be traded to any alternate characters on your account and will set that alternate character to +40,000 [Ry'Gorr] faction. 
I guess I really should have worked on my Ry'Gorr faction! (Now I have much more incentive to do so).