As always, I have no idea on how to begin these types of posts, so I’ll just get straight into it.
I’ll be splitting the post in multiple parts, starting with the new equipment, new perks and ending with the new boss fight.
New Equipment
First of all… The Exalted Arcane Armor Set. It looks amazing and I feel like all the pieces will find their usage in the game, whether it be PvP or PvE. Though, there’s one issue I have with the chestpiece.
The chestpiece provides the user with a beam that can instantly deplete stamina, rendering a person helpless in PvP, so I think that should use some change. Either give the players a bigger time window to get out of the beam or lower the stamina it takes.
The helmet is nice, I have no issues with it. The perk is nice and I love how much INT it gives, letting a subclass like Paladin have a definite choice in equipment.
Nothing to say about the new boots (Exalted and Hobo), both are nicely balanced, also no issues with them.
Being a bard main, the Ornate Lyre is a great addition. Going in the way of support bards also is the correct way, due to 99% of the bards in the game are all DPS bards so it getting added maybe will switch the meta a bit. (Doubt it though since bard dmg hasn’t been nerfed)
The Ornate Censer seems like a decent item. I don’t think there’s much to say about it, it’s balanced well and a class like Paladin will definitely prefer this over the Champion’s Vial.
Finally, the Ornate Rapier. At the beginning, I thought it could be a interesting item that lets players pivot around building DEX for maximum slashes it’s ability provides. I doubt people will invest a huge amount of DEX into a weapon that’s locked to Warrior, a class dependant on high STR. Maybe some tweaks here and there could potentially make it better, although I have no idea on how to make it a more powerful item.
Overall, I like all of the new equipment, yet I think some buffs and nerfs are necessary. It’s a 8/10 for me. 
New Perks
Seeing all the new perks added to the Colosseum Items honestly is very nice. Good to know that the developers don’t let old items die out and try to find a way to still make them usable.
Gladiator Helmet with its new perk could be a cheaper alternative to the new Exalted Arcane Helmet for Paladins. (Damn, Paladins are eating good this update, lol)
Bloodmage Hat could find usage for certain Warlock builds and in some cases, for Songweavers.
Skull Mask seems like the worst of the bunch, mainly because Bard’s Resonate doesn’t count as a shield towards it’s perk. I don’t believe it’ll find any usage for now.
I love that all the colosseum weapons got a new perk that they all share. I doubt any of them will be used though. The current weapons everyone has are way too good for the colosseum ones to be able to compete with them. I like the path the devs are going for with them, though. Hope to see more PVP stuff in the future, concerning Marks of Valor.
Overall, I have no issues with them, although they could always be better. I rate the perks a decent 7.5/10. 
New Ethera
I have fought her once, and it definitely isn’t like every other Vesteria boss. It is a hard boss fight, making it so not every player can just clear it, requiring you to be well prepared to even face the boss.
Also it becoming a solo fight is much better than being a group fight. Letting the player attempt the hardest 1v1 in PvE is better than a 6v1 with a full competitive party. Lets the player know they aren’t invincible.
Though, it does feel like it is a bit too hard… Or maybe I just have a skill issue.
Overall, I rate the boss fight a 8.5/10.
Also, I’m a day late with this, but happy 8th birthday to Vesteria! 