Guess I'll be the one getting this out here. The subject I think as been discussed on other threads, but here is some of the points I'd like to point out already:
Timestop was designed as an offensive spell, and it's now become a defensive spell, which is pretty much like greater sanctuary. There isn't much use to have a spell that will pretty much only allow you to buff your allies, since you buff your allies /before/ you have to fight.
Timestop was pretty much the only offensive spell that was really useful for any high level dungeon, and now that this is taken away, are the dungeons going to be nerf in consequence? Because I wish you a big good luck doing perfidus/sithicus/ghastria if your mage can't timestop to save the day, especially in a place like Sithicus.
Wizards will be able to live through it, since they have access to other spells of the ninth circle, but this will hurt sorcerors in an enormous way. It was the best lvl 9 spell ,and considering they could only choose 3 of them, everyone had it. The other ninth circle spells are decent, but they are very situational, and most of them can't be use in places like ghastria/sithicus/perfidus.
Timestop has been a life safer from everyone who has been doing some high tier dungeon and this nerf sounds more like a nerf made to PvP of mages, without thinking of the effects this will have on the difficulty of the dungeons on the server. There are some ways to beat a mage, you just need to be smart about it.