F2P has meant a revival for some MMO's and I hope the same is true for TOR. It's painfully early in its lifetime to get the F2P treatment, but they had to act fast, because it does seem like the subscription model wasn't succesful. There more than a few people on this board who'd play the game if it went F2P, so I'm looking forward to that.
As long as they keep the Cartel Coins system for aesthetic stuff and can't be used for an easy and quick jump to the top, I won't be complaining.
By the way, here's a handy comparison
between the sub and F2P model.