I wouldn't expect WoW to lose any more players in the next quarter due to some austerity measures they are doing (the Diablo 3 offer, Scroll of Resurrection) but it is clear that see a down trend and are trying to stem the tide.

They are not planning any new content until the next expansion which we can assume will be the standard November release (although no confirmation yet). That doesn't bode well since even I, a mediocre player in a mediocre guild, have killed Deathwing. If you haven't done it on regular, you've done it in the Raid Finder.

So what are some going to do for the next 9 months? I'd expect quite a subscriber drop during the summer with more in the fall. The numbers will jump back up with the new expansion but most likely not be back over 10 million.