World of Warcraft's first subscription drop: are you still playing?

During the recent Activision-Blizzard investor call, Blizzard CEO Mike Morheime released figures that showed the numbers of subscribers to World of Warcraft had dropped by around 5% - the first such drop recorded. The 5% doesn't seem like a huge deal, but I've certainly noticed that the servers we play on are way quieter, and the PC Gamer UK guild on Steamwheedle Cartel is in a full on recruitment drive right now. So, if you were a WoW player, but aren't any longer, tell us why you've quit? What happened? What changed? And what could the World of Warcraft development team do to win you back?