Star Wars Galaxies WAS a better game, but then again I am very biased towards sandbox style gameplay. And the open world pvp was WAAAAYYY better and fitting to the Star Wars Universe.
I think that a 5% bonus to experience gains, etc... is negligible and wouldn't encourage people to change factions. Otherwise, pretty solid ideas. I would like to see the implementation of a 4v4 "arena" type system, that would be neat.