Two cents from newb who started TOR month ago.
1. Our game is awesome. People love it and want to play it.
No. And no. SW:TOR is good with the storyline, sucks with everything else. And poeple don't want to play TOR. They want to play Star Wars. Thats not the same. It's just that there is not much choice when it comes to SW.
2. The subscription requirement was driving away huge numbers of people who do not want to commit to paying monthly.
No. It was not subscription. It is never subscription, just look at WoW (sorry, had to say it). It's always the game. TOR evidently lacks when it comes to anything that is not tied to storyline. And that hurts your playerbase. Fix it, and people will sub.
Not to mention that the F2P model you want to implement is really bad, and is more like extended demo, then anything else. AND - because storyline is the only good part of TOR, and storyline is for free, you will not see lot of incom from cartel coins. You may get more short term subs from people who try the game, sub for storyline and unsub after they complete it (I am such player - I sub for storyline).
3. The frequency of our Game Updates was way too slow. People were leaving because we were not releasing new content fast enough to keep up with the pace at which it was being consumed.
True. But you created this problem yourself with extensive voice overs rising the costs and times of updates. F2P won't fix it. AND you will never be able to create new content at pace at which it is consumed. Even such monster as WoW is not able. What you could do is to create interesting repetitive endgame content and good, balanced PvP - both low level (better queues, not mix of 1-49 levels) and high level for endgame. But, if those forums are right - you will never do this. You have not in past months and it won't change, I fear.