Nexus gear, bosses and information can be hard to filter in general chat. Here’s a breakdown of what’s really true. To answer the gear issue you will want to check out for updates to their gear system.  This is one of the best websites I’ve found to have a complete list of gear for each class via instances. While it’s not 100% updated with WotLK content it can help you to get an idea of what gear you’re looking at. For now if you want to see loot follow the boss links below.

The Nexus was originally called Ice Caverns. Mainly because it’s the home of blue dragons and the inside looks like a large cave. Like the Outlands instances, the Nexus is broken down into three separate instances. Two are five man’s and one is a 25 man instance. The first five man is appropriately named The Nexus and is for levels 71-73. While certain trolls would disagree, you do NOT need to have T6 gear to do this five man. The Nexus has two other wings inside it. One is The Oculus which is for level 80 players to do a five man. The last wing is for a 25 man raid in The Eye of Eternity.

The Nexus houses four bosses:

The Oculus also has four bosses:

The Eye of Eternity only has one boss:

Alliance run of The Nexus

Paladin tanking of The Oculus

Tankspot guide to Malygos – GREAT tutorial