During the Burning Legion's third invasion, the Knights of the Ebon Blade traveled to the Shadowlands to acquire the Aggregates of Anguish, five tormented essences of powerful souls - Admiral Proudmoore, Soulbinder Nyami, Grand Empress Shek'zeer, Grand Apothecary Putress and Archmage Arugal. Salanaar required these to conjure the Steeds of the Damned for the order's new Horsemen.
Beings of death are ancient and powerful, and it is dangerous to meddle in their realm. When Odyn peered into the Shadowlands, he saw some of its inhabitants: souls in torment, the husks of the dead, ghostly wraiths with no face, and others with no form, all made of death itself. This was enough to frighten even him. Several races in the Shadowlands, such as the kyrian of Bastion, are souls of deceased mortals who have been transformed to serve a new purpose. If one of these former mortals is killed in the Shadowlands, they die permanently. Other creatures—such as dredgers and stewards—are endemic to the Shadowlands and are naturally born from the magic of death to serve the different realms and help facilitate the process of the afterlife. If one such creature of death is killed, their energy is recycled back into the Shadowlands, and eventually another member of the same race will manifest to take the place of the one that was killed.
Keep raising the level cap with no changes to the leveling experience up to that point. This leads to ever-lengthening leveling ramps that make it extremely difficult for new players to get to current content. That's because each expansion adds another several dozen hours to how long it takes to get from the start to being able to play with friends in the endgame. (Final Fantasy XIV has this problem to some degree, even though it's nowhere near as old as WoW.)
The spell called "spiritual projection" or "astral projection" brings the caster to the Twisting Nether instead of the Shadowlands; and the Twisting Nether is also referred as "realm of ghosts". However, both planes don't appear to be related, as Outland is floating on the Twisting Nether, but the Shadowlands can be reached in Outland in The Burning Crusade.
Shadowy Tormentors inhabit this dimension, and emerge from it to torment death knights such as Koltira Deathweaver. The Lich King originally kept them at bay, but after the Knights of the Ebon Blade left his service, the tormentors are now loose upon them. He even appears in the World of the Dead, as he calls it, riding a frost wyrm during  The Power to Destroy.