Mists of Pandaria: Challenge Mode Team

If keeping an eye out for Dragon Soul nerfs isn't what you're looking for; then knowing more about MoP's Challenge Modes might interest you more. Similar to

Herald of the titans; You will have to defeat the Bosses with the condition that you will have to use equipment according to the difficulty level of the Boss. Completing these challenges; you will be rewarded with vanity items as well as transmog gear for your armor.

Summary

Challenge Modes are timed heroic instances; to be completed with low ilvl gear. Due to this, all teams above ilvl 463 will see their statistics lowered according to the level of the challenge.
The team will retain the hit probability and proficiency stats. Only secondary stats will be lowered.
There are three types of medals that we can get: Gold; Silver and Bronze.
Once all the players have managed to obtain the gold in all the achievements; they will have access to the kingdom ranking list.
The kingdom ranking lists; allows players to filter instances by time and guild.
The main objective of the challenge modes is to implement a competitive PvE environment without any kind of confrontation; between brotherhoods.
The challenge modes have recently been opened in beta for testing.
The player interface will show the medals obtained; record times; rewards; etc.

Achievements and Rewards

Challenge Conqueror: Bronze: Complete all Challenge Modes obtaining the Bronze Medal; you will get the title of The Undaunted.
Challenge Conqueror: Silver: Complete all the Challenge Modes obtaining the Silver Medal; you will get the title of Ancient Phoenix Mount.
Challenge Conqueror: Gold: Complete all the Challenge Modes obtaining the Gold Medal; You will get as a reward a set of transmovable equipment.
Challenge Conquerors: Gold - Guild Edition: Complete all the Challenge Modes obtaining the Gold Medal going in a guild group; unlocking

Thundering Serpent Hatchling.
Realm First! Challenge Conqueror: Gold It is a Feat of Strength for being the first player to earn Gold in all instances. There were more feats of strength but they have been eliminated.