best summary and quote from Miirkat on ferals
"Wow, I'm surprised at all the negative responses.
If WotLK were to go on for a lot longer I would say no. But looking into Cataclysm, I'm quite excited for Ferals so I'm really going to suggest that you check it out.
Either way, most of the Feral community has accepted that were 2nd tier in terms of competition. It's an extremely fun spec to play, but right now it doesn't have the necessary tools to finish the race. While it's still possible to make it work, it requires a lot of effort and dedication, which many people don't wish to do for a game.
If you're willing to put up with it, I personally find that playing a Feral Druid can be the most rewarding thing in the game."