In my experience the combat and exploration parts of the game are pretty dull, and adding in a bunch of new random drops didn't help.
I do, however, rather enjoy many of the new items and materials for building things. To this end I have heavily modified an item world I downloaded so that it includes the new furniture and building materials from 1.2, and now share it with you:
download here.
Copy into your Terraria/Worlds directory and keep a backup elsewhere. Once you loot it of everything you need, copy the backup back into /Worlds to refresh everything inside.
I'm pretty sure I have things pretty comprehensive and pretty well organized, but I finished this project ill and on medication so I may well have overlooked or screwed up something. Let me know if it needs revisions.
Oh, except I already know it doesn't include the Halloween-event stuff. 2spooky if you ask me.