Edit: The hotfix is now live

Posted by Bashiok 10/2/2012 1:35 PDT:

We’re working to adjust current Justice and Honor gear to better align with intended values. Currently it’s more lucrative to run Battelgrounds for ilvl 464 epics, and convert all Justice to Honor to gear up. While some crossover is fine, the most optimal way to gear for PvE doesn’t make sense to happen through PvP.

This hotfix will ideally go out today, and once applied will change all Justice and Honor items (including those already purchased) in the following ways:

Justice Items

• Current – ilvl 450 Rare
• New – ilvl 458 Rare

Honor Items

• Current – ilvl 464 Epic
• New – ilvl 458 Rare

We’ll be increasing the PvP Power and Resilience on the Honor items by 15% to compensate for this change.

Again, our design in Mists of Pandaria is to allow for a greater degree of crossover between PvE and PvP using the same gear, but the original item levels simply made Honor gear (through Battlegrounds or conversion of Justice to Honor) a far better route to gear up for PvE. Players who enjoy PvE shouldn’t feel forced to PvP to get the best gear, and vice versa.

http://us.battle.net/wow/en/forum/topic/6794319459#1