To your points:
Now that I look back, it appears I did jump into a bit of e-peen wagging although I'd argue I wasn't the one wagging my e-peen around ;).
What you say regarding the efficiency of favor gains across the Warfronts makes sense and I'm in agreement.
With respect to other ways to gain favor, we need only consider the most optimal way to acquire it. I haven't specifically looked but I thought there were only 3-4 PvP dailies available and each award no more than 1200 favor which, even using the upper bound, would still put us below optimal favor gains in a Warfront. Even were the dailies to exceed the amount of favor you could gain in a Warfront, we definitely can't be talking about much of a difference in the grand scheme of things.
To your final point, I feel something that is often lost in conversations such as this is that this is a subscription-based MMO where those paying to play the game expect, in return, the ability to have fun during their time in-game. Were that not the case, gaming itself would not exist in the first place. To me, the argument that someone who has played the game since launch should have an inherent and sizable gear advantage over someone who has played the game one month doesn't have any merit when considering PvP (PvE is inherently progression-based at its core). As a paying customer to a video game, I expect at least the opportunity to be competitive very quickly and any artificial barriers to entry that would prohibit my ability to compete, aside from my own skill and competence, would jeopardize my willingness to continue paying for the game.