[URL="http://imageshack.us/a/img4/9929/0kills.jpg"]Automated matchmaking is never perfect, but damn it there are all kinds statistics that can be measured and it can be done pretty well instead of just rolling the dice. Let's just choose one at random, say, GEAR LEVEL. Or MAXIMUM HEALTH. Or PRIMARY STAT. What a concept.
Anything that is implemented that will make queue times take longer will be problematic for this game. The time between warzone pops is, like the OP stated, steadily increasing, something many people in both my guild and in general chat have been noticing. It's not particularly bad right now but this is exactly the trend that happened on many servers in the spring: near instant pops became a few minutes wait then a 5 minute wait then a 10 minute wait and so on. By mid-May PVP was all but dead on a large number of servers due to this snowball effect. Anything that causes or contributes to this being repeated should be avoided.
So instead of matching people by valor, gear, primary stats and what not, because this will likely lead to less warzones all around, I think that Bioware should institute some sort of reward system that encourages people to group up, perhaps a 30% increase to commendations or something of that nature if you queue up as a group of four.