First, thank you all for the great feedback.
Ok, onto the details...
If you're forced to grind for factions points and to join one side, I cant say we'd be too "keen" on that. Since we're not all that familiar with all of the details of the pro's/con's to belonging to a faction, it's not really something we've yet ventured into in all of our time playing.
The *main incentive* with Factions is all of the skills, many of which, actually, really seem to be a large "boon" to any GW character. With the exception of ele's, for which I don't see anything I/we'd use over what we do now for our current nuker chars.
But for Necro, Warriors and even what looks like Rangers and Monks, there are quite a few skills and elite skills that are tempting us to get the campaign simply for that reason, blow through it to obtain those skills, then move on if we're not happy with the campaign.
We're not looking to start new classes of chars from Factions, FYI.
As for why we don't like Nightfall, I did list a lot of reasons in my original post, but yes, some of the enemy spells and powers are a bit ludicrous and highly annoying. But that's really just on top of the fact that the storyline is done very poorly and the environments are generally terrible. We'd actually prefer the Asian theme to the bland and almost oppressive African theme, with all of it's horrible looking deserts etc. Also, as many others have experienced, the order of missions in Nightfall and how the game progresses is a ridiculous confusing mess.
We really tried hard to find some enjoyment in it, but beyond using it for Heros in the beginning and to lvl up quickly using the first quarter of the game, we simply just cant play it anymore.
EoTN is definitely more our "cup of tea", but again, there are so many extremely useful skills offered only in Factions, if we can get something out of actually playing it, we think it's worth it for that alone.
Of course, that's how they get ya... offer a ton of new skills exclusive to that campaign, then you have to buy it if you want to expand on your existing characters/character classes... which is a bit annoying.
Perhaps if someone can give me more of a "brief breakdown" of the benefits to having to join a faction, that makes it worth grinding for faction points, that could help our decision.
What do you mean you can "play both sides of the coin" with factions? In PvE, you mean? I thought that joining a faction was really has more of a PvP effect, for some reason.
We have checked Wiki for all the info we could find, as well as around here (still looking), but I cant say I totally understand what really makes it worth joining a particular faction.
*However, regardless of that, if the campaign itself is not horribly annoying either in it's missions or environment, that it would make it worth while just to obtain all the skills offered (that we'd like to have access to) in the campaign, then I feel it'd be worth it for us to get into.
Would it indeed be worth it in this case?
I suppose that's really our main focus, whether or not it's worth fighting through just to obtain the skills. As long as it's not horribly annoying or frustrating, and perhaps even some environments etc. we'd enjoy, then we'd like to snag many of those skills before finally moving on to EoTN which, as I stated and was just suggested, is *definitely* more our "thing".
Thanks again for the great feedback

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Nice to find some great forums with great, helpful people for once
P.S.
Our main plan is to take lvl 20 chars into Factions to obtain the skills we want. Not to start chars in Factions. So, hopefully, that will make some things easier, heh.