I think changing faction would be good to have. The way SWG handled it was a "Points system" where if you kill an imperial trooper you get so many Rebel Faction Points, and lose so many Imperial Points. Sure it works but its not very interesting, especially when you have to kill about 500 just to get access to some gear you want...
I just hope Bioware will handle it differently.
If you're looking for any of the junk I did a few years ago; you can probably still find it all on filefront