Earlier this week Jagex announced that Runescape 3 has been scheduled to launch on July 22.
Runescape 3 will be accessible with your old account and all your things will be transfered to the newer version of the game. You can think of RuneScape 3 as a huge patch. The updated game will be utilizing a new HTML5 engine. The game will bring massive improvement in graphics quality, new audio, new design features and much more. In short, the game will run faster and look better.