Well speaking in $$$, players should expect new content every 4 months. That's $60 that could have been spent on an entirely new game.
1.2 is great and all, but I have a feeling after 1-2months people are going to be complaining again about the lack of things to do.
Grinds are necessary. Boring grinds are not.
I have a feeling that the day after 1.2 releases people are going to be complaining about lack of things to do. You just can't please some people, particularly in the MMO community. One person wants it to be more like DAOC and one person wants it to be more like WoW and one person wants it to be more like EVE and one person wants it to be more like SWG and one person thinks all those games sucked and one person needs a developer response right this second or they're going to unsubscribe.
I don't think straight up grinds are necessary at all. I think that some people do need grinds though to feel like they're doing something meaningful with their time by playing a game. By doing something that requires 'work' they're doing something productive, which lets them stay in game longer.
Some things you do are grindy by nature. Arguably doing a dungeon more than once is a grind, playing PVP is a grind, levelling is a grind, and such. But I think that's the nature of the beast, you can't escape it entirely.
What I think you can do is limit it's permeation however. I think the people complaining about a lack of things to do are either not really participating in the whole game or have a somewhat warped perspective of what they consider worthwhile 'content'. To me the most striking (and best I might add) difference between SWTOR and WoW is the lack of grinds and reward-bearing pseudo-content. Achievement points, rep grinds, meta-achievement awards, pet collecting, mount collecting, title collecting. A lot of those activities are represented in SWTOR, but the difference is SWTOR doesn't have the carrot on the stick for them; if someone wants to collect as many titles as they can then they're more than welcome to. But SWTOR doesn't turn that into some kind of objective; it's just there if you want it.
And to me that's great. I think it really shows the development team taking the 'high road' as it were and not attempting to pass off that kind of design as content.