Oh, happy day! BioWare's Georg Zoeller has posted a new entry on the Star Wars: The Old Republic official site addressing the incredibly frustrating ability delay that has had players up in arms. Zoeller states that the team has found a number of issues, including abilities on cooldown being displayed as usable, unreliable instant abilities, and significant input delay in "certain game situations, most notably (but not limited to) fast-paced PvP."
The team has worked out the two former bugs and is scheduled to get the respective fixes onto the public test server in the next update. Work on the latter issue is in "the later stage of testing," and the team hopes to be able to roll it out onto the live servers "very soon." Here's to hoping that when Zoeller says soon, he means "soon" and not "soon™."
[Update: A second dev blog, this one by BioWare's Jeff Hickman, explains the situation with Ilum PvP and why the team decided not to rollback Valor points in the wake of recent exploits. He does promise that the team will use game metrics to take action against the worst offenders if merited.]