Here's a snippet from one of the recent Halo Bulletins and a thread on Halo Waypoint.

“The Halo: Reach Title Update will add more options and flexibility to Halo: Reach’s Multiplayer. It will roll out in late September and gives 343 designers the following levers to create game variants in Matchmaking playlists. Of course while all of these features can be enabled via Matchmaking playlists, players should remember that ‘normal’ Reach gameplay can and will continue untouched in its own Matchmaking playlists. The features and elements listed here are tools available to us and will be used and implemented appropriately.

News on the timing of the Title Update release will be revealed at the Halo: Anniversary panel at 10 am on the 26th of August during Halo Fest.

Specifics:

Make damage bleed to health through shields possible.

Make reticle bloom configurable.

Modify Armor Lock.
• Sticky grenade will not be nullified if you use Armor Lock after being stuck.
• Damage received while in Armor Lock is transferred to remaining Armor Ability energy.
• How much the damage depletes your Armor Lock energy is configurable.

Modify Active Camo.
• Reduce the bonus time the player gets in Active Camo while standing still.
• Reduce the overall length of time the player can be in Active Camo.

Remove Sword block.
• Disable the ability to block Sword attacks using melee with anything other than another Sword.

Implement the classic Magnum from Halo: CE.

Enable playing Co-Op Campaign and Firefight without requiring a HDD.”

sounds good to me!

Oh YEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

The best FPS ever made just became Unbeatable. This changes everything.

343 you really are the right thing for Halo.

Well done Microsoft.

When does it update?

Late September I believe.

OMG!!! Finally nullifying noobery to some degree!

It's a beautiful thing.

*wipes tear from eye*

Modify Armor Lock.
• Sticky grenade will not be nullified if you use Armor Lock after being stuck.
• Damage received while in Armor Lock is transferred to remaining Armor Ability energy.

so whats the point of armor lock with this change?

To not be overpowered, annoying BS.

The new Armor lock will be like rechargable very temporary overshield which is much more sensable.

Hmm so everyone seems to have quite the amount of faith in 343 now, wonder if they wont disappoint.