Seems to me, if you try this FP without full Columi it is extremely difficult. Far too many people are unable to pug group it. People that don't have the fortune of a large exp guild have only this to bridge Columi to Black Hole or better gear. The drops in this Tier 2 FP need to be Rakata or better.
So you're saying some people just cannot pug HM LI. Fair enough.
Your solution is to make the flashpoint drop 4 pieces of operations-level loot? Lorick already drops Rakata (and the Columi mainhand), but that's not enough, moar rakata!!!
"Look Joe, HM LI now drops 4 pieces of Rakata, this fact has magically made me a better player -- let's pug it!"