Gifts Ungiven

Shards of Alara is tournament legal today, and both the non-eternal formats have undergone major rotations.

Standard

We lose Coldsnap, Time Spiral, Planar Chaos, and Future Sight.

Standard is now Tenth Edition, Lorwyn, Morningtide, Shadowmoor, Eventide, and Shards of Alara.

No cards are banned in Standard.

Extended

We lose Seventh EditioN (goodbye, Counterspell), Invasion, Planeshift, Apocalypse, Odyssey, Torment, and Judgment.

Extended is now Eight Edition, Ninth Edition, Tenth Edition, Onslaught, Legions, Scourge, Mirrodin, Darksteel, Fifth Dawn, Champions of Kamigawa, Betrayers of Kamigawa, Saviors of Kamigawa, Ravnica: City of Guilds, Guildpact, Dissension, Coldsnap, Time Spiral, Planar Chaos, Future Sight, Lorwyn, Morningtide, Shadowmoor, Eventide, and Shards of Alara.

Four cards are banned in Extended: Aether Vial, Disciple of the Vault, Sensei's Divining Top, and Skullclamp

As always, you can check on formats and bannings here.