Upon reaching level 50, each class is presented with a list of specialization skills from which they may choose. This is similar to the level 20 spellcast specializations that you used to get to choose from. In some cases, it's VERY similar

1 handed weapon (War, Ran, Rog): Grants a moderate hit bonus and a small damage bonus to the player while wielding one handed weapons.
2 handed weapon (War, Pal, AP): Same, but applis to two handed weapons.
Bash (War, Pal, AP): Grants the player wider range of bashable mobs. Mobs that may have been too large or too small become bashable at a penalty. Does not affect giants or dragons, forger discretion.
Rescue (Pal, AP): Allows the player to rescue other players without lag.
Bladesinging (Ran, Rog): Allows the player to apply his double attack skill to his offhand weapon. In practice, a Ranger/Rogue would get 4 hits unhasted and 6 hasted.
Archery (Ran): Increases archery damage, decreases stray percentage.
Stealth (Rog, Bar): Lagless sneak and hide.
Legerdemain (Rog, Bar): Increased chance of picking locks, stealing, and disarming traps.
Spellcraft (Ran, Pal, AP): Increases the effectiveness and duration of all spells.
Healing (Cle, Dru, Sha): Increases effectiveness of heal spells.
Protection (Cle, Dru, Sha, Enc, Con): Increases effectiveness of vitality. Longer duration on clerical prots, stoneskin, dragonscales, globe, and other protective spells by class.
Enchantment (Enc, Sha): Increases effectiveness and/or duration of haste, ray of enfeeblement, fly, levitate, power word blind, paralysis, and other non-protective duration spells by class.
Conjuration (Con, Sha): Slight increase of regular pet hit points, small chance to summon a truly awesome elemental or spirit.
Targetted Spells (Inv): Higher damage for single target spells.
Area Effect Spells (Inv): Higher damage for area effect spells (ONLY if areas take a downgrade.. otherwise everyone would just take this).
I did not include pitiful specializations like spec divination or spec transportation or any of that crap. I think that I could make a case for choosing any of these specializations, and with a very few exceptions, none is significantly more powerful than any other option per class. I could definitely see choosing Bladesinging, or 1h proficiency, or archery depending on the focus of my character and the layout of my equipment. I could see the use of a Healing cleric, or a Protection cleric, or a Protection enchanter, or an Enchantment enchanter. It all depends on your personal taste, and specializations allow players to further customize their characters.
Discuss.
- Ragorn