All of that is true.
But that's not the real source of awesome. The real source of awesome comes from this little gem:
Conquest Points are now purchasable from the Valor Quartermasters at 250 Conquest Points per 250 Valor Points.
What does this mean? It means that you can now get any pvp item that doesn't require any rating no matter who you are, provided that you have the VP for it. Which turns out to be a fairly substantial list of gear. So hey, no more pvping for pve gear! You can now pve for pvp gear instead. Which...I guess you'd probably use for pve.
Here's the comparison with gear obtainable outside of pvp. Some interesting highlights:
- The PvP helm, with mastery, is a great bear helm and better than anything non-heroic. This is a hard spot for a lot of people to get anything, and that it beats anything you can get until really rare drops makes it pretty nice. At 2200 conquest points - the same, essentially as legs and chest - this is a good deal, especially considering that the best alternatives come from drops from heroic Nef and Cho'gall (and Al'akir, kinda) Note that if you have Tsanga's Helm the difference is probably not worth getting it.
- Similarly the PvP shoulders are a pretty nice deal and better than anything but heroic gear. If you get the head and the shoulders you also get 70 agility, which is a nice little bonus. It doesn't make it better than getting heroic pieces, but it should salve having two pieces of PvP gear. This isn't quite as great a deal as the helm given that you can get good shoulders off of Omnotron, but it's still pretty good - especially if you're not doing a lot of heroic raiding. The difference here is actually higher than the helm for the comparable nonheroic piece, so still reasonable to consider. They're also a huge upgrade from the troll drop.
- The pvp chest is interesting; it's a very big jump between it and the normal tier chest (which is pretty badly itemized for bears) - bigger than the jump between the normal pieces and the pvp pieces in the head and shoulder slots combined. At the same time, you already likely have the tier chestpiece. Still, consider it; it's a nice piece of gear that is priced to move.
- The PvP gloves are about as 'better' as the 359 best gloves as the helm is - so it's a decent upgrade. The big advantage is the energy/rage cost reduction of skull bash, which is great if you're the interrupter. Thus, these are a pretty good buy at some point even if you're just replacing Liar's Handwraps.
- The pvp bracers are actually worse than the normal drop, but they're also very easy to get. And they are significantly better (about 5%) than the troll drop.
- Fasc gets his own boots, but they're significantly worse than the BoE valor boots and much much MUCH worse than the PvP boots. Somehow, I think Fasc would have wanted it that way - to be beaten by pvp gear.
- The pvp weapon is about as good for a bear as the troll weapon due to the lower ilvl on it and the wasted resilience. Of course, the real win here is the BoE Mobius' Halberd, which drops from the rare worldspawn and is just slightly worse than Malevolence
- Finally, the relic slot is actually best in slot now for bears in pvp land. The haste on the other relic is essentially worthless, and the slight gain in agility and stamina make up for the lost stat otherwise.
Most everything else is a slight upgrade in the slot - the boots, belt, gloves are all slight upgrades and the legs are basically a wash. But that should give you plenty of things to consider spending your valor points on for a while, especially if you're working on some hard hitting content like Nef and want some easy upgrades for tanking.
As to cats? It's not quite as simple. Every troll piece beats the corresponding PvP piece as far as a cat is concerned. And honestly, most of the time it's not even close. All that wasted secondary stat really hurts. Even on the wrists, though it's close. So unless you're very unlucky or sitting on a lot of valor points, getting this stuff isn't as good as just going to troll town.