It is, but it's limited to 8 yards (I'm assuming 8 yards from the enemy you just hit with smite). While that could still be fun in PvE, it's not a big enough range to be fun in PvP, though I'll still try both a holy and disc build in Cata.

Here's my wishlist:

1.) Bring back improved holy nova (not likely, but still crossing my fingers)
2.) Increase range of Atonement (fairly likely given that very few people would spend point in this talent to begin with, and having an 8 yards range makes them even less likely... a part of me is worried they'll just scrap the whole idea which will officially kill any hope of a smite priest spec)
3.) The holy power for level 10 be something offensive and useful

Right now I don't see a great priest spec in the talent trees. I'm still going to try it, but the smite spec has been getting the nerf bat hard. One strength of the priests is having 5x mana burn, but you can get that with shadow. I may look into playing 5 shadow priests w/o shadowform - who knows. My zeal for the priests has greatly faded