Milking it? Blizzard are one of the few MMO companies that are actually in-tune with their playerbase, and can release expansions that actually improve the game rather than totally destroy it. This new expansion brings along a lot of much needed change to the gameplay and story of WoW. I am really looking forward to it all. Fair enough, TBC wasn't all that great but WotLK is pretty good and it looks as though Cataclysm is going to be even better.
And all this casual-player bashing is completely unnecessary. Why is it such a bad thing for both hardcore and casual players to be able to get enjoyment out of the game? Sure, casual players can now have access to the best gear, but it takes them a lot longer to get it than if they were in a hardcore raiding guild. I would bet that more than half of the playerbase is made up of casual players and therefore Blizzard need to keep both sides happy.