The area itself is located west of Dun Morogh on the coast, and contains a small dilapidated building, a wooden dock area and three Goblin NPCs.
Newman's Landing supposedly shows Alliance characters that appear inside the house for a short period of time when they are created in the character creation screen, but I am unsure if this is still the case. After they're created, the characters are whisked away to their starting location.
The only update to the location of note is the addition of the three Goblins, which probably occurred during the Cataclysm expansion. A search of the web revealed that you can use these Goblins for grinding reputation with the Bloodsail Buccaneers faction, High Admiral "Shelly" Jorrik should grant experience towards the faction after a certain point. The High Admiral can also be used to repair your gear, and sells an assortment of items, none of which are much use.
If you wish to visit Newman's Landing yourself, you can find it located on the coast of western Dun Morogh, pictured in the map below!
More about Newman's Landing - http://www.wowwiki.com/Newman%27s_Landing
