Ah true true!
In any case, I dont think we should write FH off...just use it when the situation calls for it...not willy nilly! Unless you want to use it willy nilly!
CoW's longer cast time means FH is still often superior, even if the HPET is the same. It's extremely rare in the CMs I've done that you get an opportunity to sit still and spam endlessly. There will always be occasions where you need to prioritize getting a heal out quickly and if PW:S and Pennance are not available, you should use FH. It shouldn't be your most used spell, but there will be times when it's all you can do. However, the better my groups get at avoiding the avoidable damage, the less I need my FH button.