Having been Survival well before the expansion and since the expansion, I can say I'm glad for the changes being made to that spec. I have my doubts as to all the changes of the BM specs, as well as the Steady Shot nerf, but that's another story.
As far as SV goes I rate the attributes in this order:
1) Hit (until capped)
2) Haste (until Steady Shot capped so to speak)
3) Agility
4) Attack Power
Stamina, Int, and Armor Pen mean very little to me, but given the choice I would probably pick Int > Stamina > Armor Pen. The reason I choose int over stamina is due to Careful Aim pinned up against Hunter VS Wild. While both attributes are excellent int would prove to give you more AP in the long run. Not to mention with current gear choices, neither Stamina nor Int are in short supply. Armor Pen comes dead last, because I wouldn't give up any other stat for it. I would gladly take a piece with Crit/AP over a piece with ArP/AP due to the horrible stacking of ArP and how little it does unless you have an excessive amount.
I'm working on a new guide for Survival Hunters but have yet to post anything due to the changes coming up. I've gone through at least 10 different SV specs raiding through Naxx, including a Trap-Dancing type spec, but the numbers themselves are inconsistent for particular boss fights. The test dummies to me aren't nearly as accurate due to changing variables of every boss fight (aside from patchwerk where he just stands there). I tend to look at Damage Overall rather then max DPS being delt at that opportune moment when the cosmos align themselves. Although my current spec is a little odd I will admit, I was mostly just testing out Immolation Traps for Trap-Dancing (and I needed to respec for a holiday achievement since SV was bugged once again for a holiday achievement).
However, back to the topic at hand, Agility still plays a vital role for SV. Although I do find it funny that our agility tends to add more armor then dodge % lately. Crit % is also very important, but you also have to remember out talents as SV as well.
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The Spec now needs high Crit though (if it needed before, idk). This would be for your Replinishment and EW procs.
Regarding Explosive Shot:
1) Survival Instincts - 4% (Max) increased crit chance for Explosive Shot
3) T.N.T. - 9% (Max) increased crit chance for Explosive Shot
Between those two talents, you already have a 13% added crit chance for your Explosive Shots on top of what your current Crit % is. Even with the worst of gear, and a 20% chance to crit, your Explosive Shots will have a 33% chance to crit on targets per tick of the shot, and it only gets better as you acquire more gear. Personally speaking I wouldn't grab a piece of gear that has more crit over agility with roughly the same stats due to our high % to crit anyway. Even with 3/5 into Hunting Party you'll have no problems keeping that buff up at all times while fighting, same goes for Expose Weakness. However if you feel you are missing some crit, invest into Master Tactician for the meantime. Granted it's more of a band-aid to fix the problem, but it does help a bit.
The real question now will be if Trap-Dancing will work VS Sniper Training. For me, it's been hit or miss. There are some fights where Trap-Dancing is not only easier, it proves to do a bit more damage then Sniper Training. However there are also fights where getting up close and personal to a boss to lay a trap down, isn't exactly warranted or helpful. Although I have already noticed a Disengage/Explosive Shot macro is very helpful in PVP right after laying down a trap, as well as for PVE bosses to help you get back to ranged combat quicker. Kill Shot is also getting a bit of a buff, seeing as it will be on a 15 sec cooldown instead of a 35. This for me means 2 Kill Shots instead of 1, or possibly 3 instead of 2 (depends on the fight but most bosses we only have time for 1 kill shot). Having crit upwards of 15k+ with a Kill Shot, it's a significant amount of damage, and Sniper Training would almost gaurantee a crit with our high crit rating as SV.
I've also used Aimed Shot in some of my builds as well due to Sniper Training adding 6% more damage to that ability, proving it's worth over Multi-Shot for boss fights. 6% Damage Added to Explosive, Steady, and Aimed Shot is hard to pass up since they will be the top 3 abilities you'll be using for a shot rotation, Serpent Sting is just a given. Enough so to not Trap-Dance? Not sure just yet, 2 Free/Instant Cast Explosive Shots every 26-30 seconds will also prove to be very powerful along with the damage added from the trap, my guess would be Immolation Trap at the moment. However, again it depends on the fight.
Kel'Thuzad I wouldn't expect to be Trap-Dancing with the melee only to add another body to be hit by the Ice Tombs as well as avoiding and constantly moving out of the red circles as well. Same goes for Sarth before him, as running up to him to lay a trap that will actually go off can prove devestating. Although the Thaddius fight where you can be constantly switching sides, you can always place a trap down as you cross over. DDR I doubt any hunter would be running into the fray to lay down a trap for LNL to proc.
Long post, but more testing will need to be done before anything conclusive shows up. Not to mention we have no idea what the new boss encounters will be like, so we'll just wait and see.