In many ways the flashpoints seem more satisfying than current raid content. The flashpoints are on average either very well tuned or overtuned requiring excellent placement and comprehension for clearing them all.
I haven't done any of the raid content as I'm only level 44 right now but I can see why raid content isn't exactly at par. From what I understand there weren't many HIGH END guilds during beta participating in the raid content. Maybe I'm wrong but I'm just going off what I've read on multiple threads. If BW made the raid content too hard it would get nerfed to oblivion and people who want a "Challenge" would then complain it was too easy.
If you look at Blizzard, when Firelands came out it was challenging and fun pre nerf, the moment it was nerfed it became a joke because of how hard the nerf was. Now look at Dragon Soul (10/25 not LFR) it started out fairly nerfed however each patch/hotfix something in there has been getting buffed or nerfed depending on the difficulty. They seemed to have figured out if you start off with a semi nerfed but hard enough so the top end guilds are happy and tune it so it's not a joke but still difficult for 90% of the population people are going to be happy.
I personally haven't heard one complaint about content in WoW or SWTOR yet. People complain about bugs all the time and throw fits like it's going to solve something in a matter of seconds which is typical but redundant. I'm severely happy with my purchase of SWTOR and I plan on playing it no matter the content difficulty, what I'm worried about though is the fact that everything is voice over how long between content patches is it really going to be.