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Winz's Note: Gonna make this the summary post attached to the game updates.

In short: Premium Combo Cards, Zorro Char Cards, and the long awaited Dragon Pets. Game notes are below Golvan update. See Full Reading.

Notes I think you'd like are bolded. Green = story / mission updates. And, as usual, underlined text are clickable links.

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Who is this Golvan character?

Golvan is supposedly a character in one of Shakespeare’s lost and unpublished works. This mysterious man somehow appears in Erinn due to thinking that he is a writer. Because Golvan is not an actual writer, but a character, he is cursed with not being able to complete any stories that he has written. This causes several problems for the inhabitants of Erinn, and it's up to you to show this wayward writer/actor his true destiny! Learn more as you meet Aisling, Marlowe, and Shakespeare throughout the storyline.


Talk about one serious case of writer's block!

What else happened with the update? Check out the update notes below!

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• • The Hot Air Balloon Event will conclude.
  
• • The Water Balloon Event will conclude.
  
• • The Graduation Sale will be ending.
  
• • The lost story of Golvan is now a playable adventure in Mabinogi!
  
• • Fire Dragon and the Thunder Dragon pets will be unleashed. Get yours!
  
  
• • Be an icon of justice! Get a Zorro character card and slash a 'Z' into evil.
  
• • A new row of hotkeys have been added! These hotkeys correspond to 1-0 on the keyboard.
  
  
• • More intelligent auto-move has been added in Tir Chonail. When confronted with an obstacle, your character will automatically try to make his/her way around the object. We are looking forward to implementing this feature into the rest of Erinn.
  
• • When a character reaches total levels of 10, 20, 40, 50, 70, 80, and 100, he or she will receive special quests that grant enchanted clothing, accessories, shields, and other items to help ease the level-up process.
  
  
• • Keyboard movement has been implemented. Go to Menu -> Options, Game Tab, Control sub-tab, Hotkey Settings. You can now remap your hotkeys to move WASD-style!
  
• • Edern now offers a Blacksmithing Part-Time Job.
  
• • Elf and Giant NPCs now have idle animations and motions.
  
• • A new theatre mission, Warden of the Gods, has been added.
  
• • The difficulty of Fortinbras's Expedition theatre mission has been reduced significantly.
  
  
• • The drop rate of Gold Combo Cards has been increased.
  
• • Voight in Cor now sells several new Courcle excavation books to explorers.
  
• • The alchemy skill Golem has had its size reduced relative to each rank related to the skill (Golem, Alcmeny Mastery, Earth Alchemy Mastery, etc).
  
• • The alchemy skill Golem may now only use Windmill up to Rank 5.
  
• • Characters will no longer gain weight unless they are at 100% "full."
  
  
• • Spirit Awakening damage has been increased for swords, blunt weapons, wands, and bows.
  
• • Spirit Weapons can now be repaired at a much higher rate. - (Winz: How much higher than 99% can you get? Locke: 99.9%! Winz: FAIL!)
  
• • The alchemy skill Rain Casting now has a cooldown of 120 seconds (down from 300). - TRILLZ, THIS IS FOR YOU
  
• • The Giant skill Throwing Attack now has a cooldown of 7 seconds (down from 25). - TANZ, THIS ONE'S FOR YOU!
  
  
• • Briana in Tara Castle now sells the following Magical Music Scrolls: Roar of the Battle Ground (Modified), The Only Survivor, Sharpened Blade, Shadow Behind, and Bodyguard, My First Love.
  
• • The Persona Cladius's Conspiracy has been adjusted to the following: Intelligence +100, Luck +20, Strength -30, Dexterity -30.
  

The official announcement can be found here. Credits to Mabinogiworld Wiki for dragon pet info links.