Diablo III Introduces Paragon System as part of Patch 1.0.4
In an attempt to improve end-game content, Blizzard Entertainment has announced a new Paragon Leveling System to be released along with Diablo III's Patch 1.0.4. Through this system players will be able to gain Paragon Levels once capped at at the max base level. Paragon Levels offer core stat boosts, an increased % chance for magic-find and gold-find, as well as a stylized portrait that improves every 10 Paragon Levels (with a max of 100 Paragon Levels) so you can rub your elite status in the faces of those less veteran than yourself.
"The whole team really banded together to get as much great stuff into this patch as possible," stated Jay Wilson, Game Director for Diablo III. "With the Paragon System in place we're capping Magic Find and Gold Find to 300%."
This barely scratches the surface of this massive patch. To read the full details see Jay's full post at Battle.net.