Whatever is wrong with the HM FP mechanic, the same is true for HM/NMM Operations.
It could take several hours to run a HM/NMM OP and there is a good chance some/most group members will not receive armor/gear upgrades.
I started a thread on the subject and was beaten into the ground by BW fanbois who I guess already had exploited all their Rakata gear and want to remain superior to others in the game.
I end up thinking whatever, and the poor loot mechanic is just one more reason I starting to dislike playing the game.
If there is a silver lining... they did lower the cost of repairs by about 50%.