Priest

New or changed baseline abilities

Baseline spells the Forever tooltips mention that are not in Classic, inferred from the demo.

Shadow Word: Death
Execute-style Shadow spell; mentioned by Early Demise.

Devouring Plague
Now a normal Shadow spell rather than an Undead racial: a Night Elf Priest has it at Rank 3 by level 38 in the demo spellbook. Also mentioned by Devouring Contagion.

Fear Ward
Baseline for every Priest now: sits in the Holy tab of a Night Elf Priest's spellbook in the demo.

Races

From the BlizzCon demo. Fear Ward is now baseline for every Priest. Troll spells have not been seen yet. Night Elf spells confirmed in a level 38 spellbook on stream.

UndeadHorde

Will of the Forsaken
Removes Charm, Fear and Sleep effects. (No longer an immunity.)

Cannibalize
Regenerate 35% Health and Mana from corpses.

Underwater Breathing
Breathe underwater 300% longer.

Touch of the Grave
Attacks sometimes drain health.

Dark Sacrifice class spell
Instant, 10 min cooldown. Cannibalize 720 of your own Health over 15 sec to gain 720 Mana. (Rank 2, level 38 values.)

TrollHorde

Berserking
+10% attack and cast speed for 10 sec.

Rapid Regeneration
Regenerate 50% max Health over time.

Beast Slaying
+5% damage vs Beasts.

Regeneration
10% of Health regen continues in combat.

Unknown class spell
Not yet seen in the demo.

HumanAlliance

Will to Survive
Removes Stun effects.

Perception
Detect stealth for 20 sec.

Sword Specialization
While wielding a sword, +2% spell and ability critical strike chance.

The Human Spirit
+5% Spirit.

Divine Grace class spell
Cooldown that removes Weakened Soul from the target and heals them.

DwarfAlliance

Stoneform
Immune to Bleeds, Poison and Disease; reduced Physical damage taken for 8 sec.

Find Treasure
Track treasure chests.

Mace Specialization
While wielding a mace, +1% spell and ability critical strike chance.

Big Game Hunter
+5% damage vs Beasts.

Chastise class spell
Holy damage plus a short root, as in TBC.

Desperate Prayer class spell
Instantly heals you, as in TBC.

Night ElfAlliance

Elune's Light
+10% critical strike chance for 15 sec.

Shadowmeld
Stealth while immobile.

Quickness
+1% Dodge, +2% run speed.

Wisp Spirit
+75% speed while dead.

Elune's Grace class spell
Changed. Instant, 26 mana, 5 min cooldown: reduces the chance you will be hit by melee and ranged attacks by 50% for 15 sec or until you are missed 3 times. (Classic: ranged only, plus dodge, 3 min cooldown.) Read from the demo spellbook at level 38.

Starshards class spell
Still in the spellbook (Rank 4 at level 38). Tooltip not read yet, so treat it as Classic until the beta.

GnomeAlliance

Escape Artist
Briefly immune to Roots and Snares.

Eureka!
Reduced cost and +10% damage/healing on your next 3 abilities.

Expansive Mind
+5% Mana, Rage and Energy.

Engineering Specialization
More reliable engineering devices.

Confounding Flash class spell
Area crowd-control cooldown.

Contingency Plan class spell
Reported to work like Guardian Spirit: prevents a death and heals instead.

Spellbook at level 38

A level 38 Night Elf Priest from the BlizzCon demo, read from stream footage (Savix 5:01:52). Spells trained after 38 are not here.

Fear Ward is baseline for every Priest, in the Holy tab.

Devouring Plague is a normal Shadow spell now, Rank 3 on a Night Elf.

Elune's Grace changed: 5 min cooldown, 50% chance to be missed by melee and ranged for 15 sec or until missed 3 times.

No Shadow Word: Death by 38; the talent tooltips mention it, so it is probably trained later. The demo was capped at 38.