Bizzard has announced that current badges will be changd to a new currency system (Justice Points) when Cataclysm comes out. The same thing will happen in PvP where tokens will become Honor Points.
http://www.wowhead.com/blog=168435
UPDATE Blizzard has released the currency exchange rates.
http://www.wowhead.com/blog=168504
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The Solo MMO Player collects links to the most useful or interesting MMO websites, databases and blog entries I have found, with a bias toward topics of interest to the Solo Player. Use the search box in the upper left hand corner to find topics. Kelari NPC Warrior art courtesy of Game Fluid.
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