Blizzard released the Mists of Pandaria cinematic today. It's quite good. Not as good as the Wrath of Lich King cinematic, but then, very little is.
Technically, the video is superb. The detail and animation is amazing.
However, I think the cinematic doesn't have a lot of "weight" to it. It's funny, and has some nice humour, but I don't think it's particularly memorable.
The one thing this video does very well is introduce the concept of a "third power" in the game. You have the Horde. You have the Alliance. And now you have the Pandaren. The video makes it clear that they are a new and powerful people.
However, the video sends somewhat mixed messages about the Pandaren. Are the Horde and Alliance uniting against the Pandaren? But the Pandaren seem like good people, what with the fighting for home and harmony. Of course, the idea that each faction is trying to woo the Pandaren seems really hard to convey in a short, rousing, cinematic.
The video doesn't really give much of an indication about this expansion, or a reason to do anything. All the previous cinematics have a call-to-arms vibe, while this one basically says, "Hey, there are Pandaren Monks." Leaving the player to ask, "And this is important why?"
But maybe that's not a bad thing, reflecting a quieter and not-so-urgent expansion.