I never really noticed until I jumped off Dalaran in Broken Isles.
My character slowly fell into the water below. my character didn't float, but kinda "glided" into the water below. My character didnt fall straight down either, but at an angle (no mount, just my character). And no trinket or item or anything and this is on a DK so no demon hunter wings, just glided to the water below.
Then I started noticing after that, I jump off hills and my character kinda falls slower than I'd fall in real life, even without the hill being that high. Its kinda hard to notice at first, but when you do, you realize your character doesnt fall really fast like you would in real life, but kinda slower.
Interesting, because most games copy earth gravity (even if its an alien world where it be totally different). Its nice that azeroth (an alien planet) doesn't confine to earth rules of gravity.