[Source] In short, it is called reticle combat, which my spell-check is telling me it is not an actual word. No matter, reticle combat will most likely feature a cross-hair, the sort you would see in TERA and to some extent, shooter games. Details for this are still vague currently, but The Secret World’s new game director said a live stream will be done on 12th October to showcase this new combat mechanic.
Players can still switch to the classic tab-targeting, which is somewhat awesome. I may give the game a shot again, only after the live stream convinces me (I HATED the combat).