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Blizzard has said they will do more expansions, I estimate that 3 more will come out. One in 2013, 2014, and 2015 but what wil be next for WoW after that? I don't think they should make an entirely new sequel that would seperate it from the original game but to rev-amp the games graphics, add a huge new world and add the option for skill based gameplay.
What the Devs should do is once they are finished all the expansions then a sequel would probably be next. It should have optional new gameplay that would be spread to half of the Realms, gameplay would be sort of like skyrim, it would be skill based with a first person view, blocking and FPS like aiming for spells. The graphics would also be a lot better and their would be new lands to explore.
I doubt this would ever happen but it would be great if WoW did have gameplay like this, the world is among the best looking diverse range of enviornments in any MMO, if they just updated the Player models/NPC's and added new gameplay like this then it would be amazing.