I have two alts, one main. One of my alts has done 0 dailiies, grinded only as much rep as I got on the way to level 90 (honored with Klaxxi due to questing in Dread Wastes from 89 to 90), has been doing LFR since day one and now has about 475 ilvl. Only hit 90 on him exactly two weeks ago.
The reps are not necessary. It's still really fast and easy to gear up an alt. If you aren't willing to PvP / spend some gold though, well, tough luck.
---------- Post added 2012-11-25 at 01:54 AM ----------
It's already pretty easy. I just did it on my last 90, hit level 90 on a Saturday, raided MSV LFR that same day. It took me until the following Tuesday to hit 470 ilvl and start doing HoF LFR. I was a bit disappointed that I was unable to do HoF LFR during the first week that he was 90 but grinding reps and doing dailies would not have helped me out there anyway.