Last night Wizard101 developers reset arena points to make up for some points being awarded too quickly. Instead of resetting all to 500 like they did last time they are bumping everyone Warlord level and above down to base Warlord level so it won't affect their ability to purchase those items that require the status level.
Also they fixed a bug at the bazaar where sometimes you'd get ripped off on selling prices of things. (hmm, like this has never happened at a bazaar in real life)
Now if they'll just retrospectively adjust Grandmaster points like they do arena points a lot of us long-timers will be happy.