Wow, I thought I was the only one with this issue after that patch. I did some testing last night, and found out it only applies to my female elves -- human females and dwarves aren't bugged at all (didn't test human/elf males, as I don't have any).
Edit:
Here's an example of how my druid now holds weapons --
Happens both in item previews and for weapons I'm actually holding. The weapons should be horizontal when held, but none are. Tried it with every type of weapon/off-hand and they all look this ridiculous.