Okay, making a short note here based on some guild chat I saw that has dating wrong on when this comes out.
It is NOT on PTS yet and I've checked my PTS which is still 1.5.3 with no updates pending. They already stated that they would release on PTS right after the New Year in their December 4th update and I cannot find anything written that says other wise.
When will it hit live? No date yet and I'm guessing that is due to wanting it on PTS a bit first. It is my hope that they make sure they give this some decent PTS testing before rolling it to live since it has HUGE changes due to last phase of the Champion System and the first phase of the Justice System.
ESO live episode coming out tomorrow - live version at 4pm EST - is going to talk more about the Champion and Justice systems. People are already posting a lot of good questions on the main ESO forums that they would like to see answered.
Anyway, my feeling is that it will be February before it is on live if they really give it a month on PTS, which I think should be the minimum based on the size and amount of base game change it will cause. I suggest if you have the room on your computer and the time to get this update and play it and really feedback and bug report it to death constructively with a good dose of likes and dislikes. They DO read that stuff and see what they can do with it. And if you love this game enough to want it to keep growing into something better, you should want to help them do it. I'll actually be getting on it this update.