I have not been healing with my Paladin much since 4.0.1 released. I ran him through all the Elemental event bosses, but I didn't use anything but Beacon, Holy Shock, Holy Light, and Word of Glory. I think Light of Dawn would have been useful, but by the time I remembered it, I had done all 4 bosses.
The patch notes for 4.0.3a shows the designers have been fine tuning paladin healing.
Holy Radiance now has reduced effectiveness on targets over 8 yards away from the paladin. /RW Radiance Active, Move to me! A talent that encourages Holy Paladins to move is unnatural. We stand in one place casting Really Big Heals. But, maybe not so much anymore. Holy Shock, WOG, Light of Dawn, and Holy Radiance, makes us so much more mobile.
Beacon of Light now lasts 5 minutes, up from 60 seconds. In Wrath the Beacon of Light was a signature spell of the Holy Paladin. It was a priority to keep it active and learning the best times to refresh it was important. It's possible that the new Beacon with a zero mana cost (Glyph of Beacon of Light) will be a more strategic spell. I don't know, and I won't until I get some experience with actual level 85 encounters.
Blessed Life: the effects of this talent cannot occur more than once every 8 seconds, up from every 2 seconds. I'm guessing the PVP players won't like this very much. Free Holy Power from attacks is a powerful ability. This talent would also be useful while leveling from 80-85, if you insisted on doing it as a Holy spec.
Illuminated Healing absorb shield now absorbs 10% of the total amount healed, up from 8%. Each point of Mastery increases the effect by an additional 1.25%, up from 1%. Shields are good. Shields that absorb even more damage are gooder.
Light of dawn has been redesigned. It no longer has an enforced cooldown, now costs Holy Power instead of mana, and scale in direct proportion to the amount of Holy Power used. In addition it now heals the 5 most injured group targets (including self) in a 30-yard frontal cone. A smart heal for the paladin. Glyphed this will be very powerful in a 10 man raid, healing 6 of the most injured. The cool down has been removed, but getting three Holy Power is a more organic cool down. Decision time, WOG or LOD at three Holy Power.
Protector of the Innocent no longer triggers from self-heals. Smells like another PVP tweak. I imagine the Holy Paladin spamming heals on himself while laughing at the player attacking him. This talent appears to address the common, I forgot to heal myself syndrome many healers experience. A personal mini beacon.
Fine tuning pass number 41 or whatever. I expect there will be more tweaks in the weeks to come.