I have a level 34 character with an arena rating of about 850. I have noticed recently something odd with how the points are being awarded (or taken away) for match results. I know that the game uses a competitive ranking system and that the points are calculated based upon the expected match outcome. A warlord matched up with a private will receive relatively few points for a win but will be penalized heavily for a loss. Vice versa from the private's perspective.
Now the change that I have noticed lately is that level does not appear to be considered in the points calculation anymore. On the other hand the matching system DOES appear to consider level. Yesterday I played a good number of matches though I don't know the exact number. Most of these had me matched me against level 50 privates. These are tough matches for someone of my level. Level 50's will have anywhere from 2500 to 3300 health compared to my 1300. They have access to higher level spells than I do. My advantage is experience and skill and this pretty much evens things out which is what lead to the match up to begin with. A match like this USED to award/penalize somewhere in the neighborhood of 15 - 17 points. Now the spread is 3 points for a win, -28 points for a loss.
The bottom line is that matches that the matching system considers to be even are viewed by the points award system as lopsided.