A short time ago today, Bungie's live stream of some of the content coming in the Destiny House of Wolves content was shown off. Some of the major points shown off include the following:
  • You can now exchange your surplus materials for materials that you actually want or need. For instance, you can now exchange an Ascendant Shard for an Ascendant Energy. You can also exchange materials for Glimmer.
  • Bungie also showed off some of the new vendor legendary weapons.
  • Those new legendary weapons can be reforged at any time, provided you have enough of the required materials.
  • Existing legendary and exotic weapons can be upgraded to level 34 (the new level cap) stats at any time without the need to level up the weapons again. These upgrades do require special upgrade materials.

Bungie also showed off the Reef social hub during their stream. It's also important to note that the upgraded levels on gear and weapons can also be attained by those who do not own the DLC.

You can check out more from their earlier stream by watching the VOD over at Twitch.