The most recent simulations preformed over at the Elitist Jerks forums point to our Affliction Warlock spec being the top dog, raid wise (at a T11 gear level). However, the simulation also reveals an exciting parity amongst the specs that really hasn't been seen before. It really does seem like all three trees are almost equally viable. Having said that, it's never really been a choice for me: Affliction is my bag, baby. As such, the spec I'm using at 85 is 32/1/8, a variation of the "affliction" spec in the simulation.
Here's a picture for those of you that might not be able to access the link:
The affliction tree is loaded with all sorts of goodies, and I'm not going to break down each individual talent as they all seem pretty self-explanatory to me: pick the ones that increase damage. Feel free to leave a question in comments if you have one, but most of them give very straight forward damage increases to our staple spells. With the new, pared down tree system, we start by putting 31 points into the affliction tree to get Haunt and open up the other trees. We end up putting most of the remaining points into the Destruction tree.
I skipped the two fear modifier, because I don't find them useful (the glyph is enough), and I didn't pick up Curse of Exhaustion for the same reason. The only points spent on a talent that didn't obviously buff damage was in Improved Life Tap. You'll need to spend those points somewhere in order to advance the tree, and I figured more mana returned translates to less tapping, hence a DPS increase.
I used one discretionary point to fill up Seed of Corruption talent (1/1) and also topped off Nightfall (2/2). I also chose to fill up Shadow and Flame before Bane because of group make up. You may want to do it the other way around, as Bane is probably the better talent for personal DPS, with S&F being better for a group if you don't already a similar buff (replacing Improved Shadow Bolts). Eventually, you'll want to fill up both talents though.
I also dropped my last point into the Demonology tree. First time ever that I've done that. There wasn't anything that would immediately help my DPS at that point, so it seemed like a good idea to get the extra stamina and make myself a bit more hardy.
The pared down trees really make it easier to hone in on a spec. I wouldn't call this "cookie cutter", by any means, but there are only a handful of points that can be juggled around. Mostly, that juggling can be done based on preference and situation. This is what I'm going to be using for raiding, feel free to leave your own suggestions. Once we all start leveling in Cataclysm, I'll revisit this and update it again, but I wanted to get it up and linked on the left side. Thanks to everyone who gave me input on my first cut at the spec, it really helped to clarify a couple of choices.