I just read the new dev blog. My two main accounts are faction standing agnostic, in that they decline any and all anti-faction missions because I have a habit of relocating to various areas in space. Grimmash so far has 8+ standings with the Amarr Navy, Federation Navy and Ishukone Watch, as does my industrial pilot. On those characters I value the ability to get perfect refines and jumps clones anywhere, and I like being able to fly in any area of space without wondering if gate guns are going to light me up like Paxista smuggling a certain book.
But my third account has a frigate pilot that does not care a whit about faction standings. She's only meant for fun. The new FW changes excite me, and after a week and half of the trade alt training for more order slots, I may have to get that pilot up to Tech II projectiles. The thought of having meaningful, structured pvp appeals to me. I spent an all too brief stint in RvB, having fun blowing people up, and I have... 50 or so Rifters and half as many Thrashers languishing over in the RvB systems. I could up fit those to real pvp fits without too much trouble. By real I mean not meta 1 modules meant to be thrown against the rocks of Blue Fleets.
All of this is my long way of saying Faction Warfare may get some attention from me soon, and that is exciting! High sec wardecs are pointless, but the new changes to FW are adding some persistent sandbox goodness to the mix. If you want a much better look at FW, the changes, and reasons to get excited about it, go check this site out.