I don't really mind faction grinds, although they are not my favorite part of the game. WoW made it easier by using the tabard system, which gave you a reason to run dungeons repeatedly other than boredom/gear. I liked the faction system in EverQuest because it was a great feeling to finally walk up to a city and not be attacked by the guards. I got bored of them in WoW because it was usually just for a piece of gear. It was still a faction grind, but I find it hard to think of a faction system that isn't a grind in some respect.