I think its a bad idea to do all the other faction quests and zones.
I have only one character atm in the EP, and did some of the DC zones, I was planning to create an alt, but since you already do the other alliance's zones, I'm not looking forward to do it all over again.
Of course, you don't HAVE to do them - the only alternative then is grinding dungeons.
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Imo the entire VR debacle is bad designing and complete bollocks overall. It would be better if they left the entire thing out of the game.