1.03 is a double edged sword without any class buffs for us.
On one side you have the attack speed nerf, which may be harsh or may be semi light.
On the other, You have the melee damage nerf to mobs. Which depending how big it is will be huge. Especially in act3/4 where you have mobs hittin for 16-30k.
This is the reason that they're doing both at the same time. They know that they're totally screwing monks over with the IAS nerf. There's simply no way they cannot understand that - Blizzard devs are competent, despite what a lot of this game's fans think. They're just hoping that by doing them simultaneously, the hit won't be as noticeable. Also, it gives them 'plausible deniability'. When every single monk and barbarian player starts screaming and threatening to quit, they can just say, 'Golly gee! You melee guys, always complaining! We just nerfed all the mobs damage, what else do you want from us?'
Meanwhile, they do their best to sweep their dirty little nerf under the rug. Listen, I can honestly understand that IAS is simply too good. It is literally a buff to everything single thing that monks and barbs need. It probably DOES need to be nerfed.
However, giving a 16 year old the keys to a brand new sports car while simultaneously breaking both of his arms so he won't be able to drive it for 3 months is NOT going to make him happy. It's just going to frustrate him even more. This is, in effect, what they're doing to monks and barbarians.
We are the only 2 classes that require hitting creatures in melee to generate resources(this affects monks much more than barbs, as most barbs don't use Fury except to power WotBerserker and for the damage buff for keeping max fury). Every other class can generate their resource passively. We are the only classes that really relies on active mitigation(i.e. life steal, life on hit, and for monks LPSS) to even be able to do damage. We have the least tools to increase our damage, and have to dedicate a larger portion of our active and passive skills to defense, so using the most efficient means to increase our damage is very important - IAS is the most efficient way to do this. Hands down. It is a straight percent increase to our damage over time... nothing else can come close.
They won't buff monks or barbs until they see how these changes shake out. This will probably take 2 or 3 months, since they'll want to evaluate the changes once all the dust has settled from all of these changes... and that's for them to even stat iterating on what changes are required or needed. We're probably talking 3 to 5 months before we see significant changes to class balance. They'll likely have a glib response for the huge gripefest that will begin once 1.0.3 goes live, but it will take that long to see the changes that are needed.
Bet on it.