I like it
The old system was bad for players' health. No, I'm not exaggerating, bear with me on this.
Waiting a day for rewards might be a great way to teach some amount of patience, but it didn't work out that way. Instead it meant that a player that fell short on honor was stuck waiting another day, sometimes for less than 100 honor. No one wants to be in that frustrating situation, so we all grind a little extra honor. A little extra is a modest statement, I know that if I wanted something the next day, I made sure to have a few thousand extra. That could be several extra hours, depending on the server, faction, and BG weekend.
When it's 10:30 and I'm getting a little sleepy and my eyes hurt, I want to wind down, read a book, lay in bed. But I gotta get that extra honor for the buffer! Next thing I know I'm staring with dread at the server clock ticking over and I can tell that I'm going to end up a little short. The honor calculates and I lose.
Now I know exactly how much honor I have and it is available right now. That's nice.
Speaking of honor, I'm running out of things to buy. I have all the honor armor, including two S1 pieces that I haven't replaced yet. I have the trinket, rings, and tonight I got the new neck. I suppose all that's left is to save up honor for when S4 comes out and they update the gear again. I might get a S2 weapon if it looks to be a big enough upgrade.