Patch 3.1 and 3.2 will see improvements to the Wolves Den system. First, 3.1 will add matching based on points/rating. But there are bigger plans as well, such as season-based ranking that resets with each major patch. The highest ranked players will get special titles and items. Wants to end up with a similar system to LoL. This would probably be in patch 3.2.
I like the sounds of this! Give PvP'ers some way of showing off their ePeen. I think that will help encourage more of them to come out of the woodwork. I also hope they will do something about the GC restrictions, I think that alone is the biggest downfall to a rather fun PvP experience.