Over Simplifying stats in Cataclysm

I don't know the exact details of what's going to happen (as blizzard hasn't said all stats which will be changed) but I believe Blizzard is wanting to get rid of every stat apart from strength, int, spirit, stamina, agility.
So that means no spell power, no crit gear, no armor pen, no hit rating, no expertise...

I really disagree with this for many reasons:

1) No flexibility in gearing choices. You pick up some wrists from a dungeon and they'll be the same as wrists from another dungeon if they're the same ilvl.

2) Boring loot. You can't aim for a certain stat and try and maximise your character in an effective way as if you're a warrior for example you'll always just pick whatever gear drops from the highest instance you can raid. There won't be those special pieces you can treasure.

3) No skill/knowledge left in the game for garing up whatsoever. A large percentage of the player base are over 20 years old and have played MMO's for a long time. A lot of people enjoy spending time learning about how best to gear their character. Even new players enjoy learning how to improve their character and older players enjoy helping.
This won't be needed any more as you will simply always have better gear just by doing higher content so gear choices become irrelevant.

For me this change above all others will really push me towards another MMO tbh. Whilst making things needlessly complicated is plain dumb, I don't think the current stats are needlessly complicated. They each have a purpose and make for interesting gearing choices on each loot rather than simply 'omg higher ilvl need'

What I do think is they should keep the current stats and add a tab which explains the stats or shows where your soft and hard caps are. But don't just remove all stats... :-(

EDIT:
Some suggestions

After looking at what will stay and what will go so far from blizzards point of view I see it as completely random. They haven't chosen logical conversions and to be honest it's not really simplifying anything. To me 30 mp5 for example is more meaningful than 40 spirit. What the hell does 40 spirit actually mean to me? 30 mp5 i know to mean 30 mana every 5 seconds.

Also why have agility and crit rating? They do the same thing. Why have int as spell power and spell crit but have str only as the equivalent of spell power and have agi as crit?

Why have meaningless values like 500 str that need to be converted to attack power?

My idea is simple. If you want to simplify things do it logically.

Have 6 stats:

Strength = Adds the value of str to the damage your weapon does (factoring in speed). No attack power is needed any more. You're simply using the strength value. Easy

Agility = Dodge and crit as it is now. It will no longer add to rogue and hunter AP. It could be the new melee crit attack and would give crit depending on level.

Willpower = The equivalent of strength but for spells (what spellpower is currently). Would add the value of it to your spells (factoring in cast time)

Intelligence = Your spell crit and mana pool.

Stam = Your hit points

Spirit = Regen which wouldn't be a calculated value as it is now. It would simply be your mp5. So a value of 500 would be 500 mana every 5 seconds for example. +50% while not casting for example.

You now don't need crit. You don't need AP. You don't need mp5.

What can stay are haste and hit/expertise rating. At least this makes sense to me at least rather than blizzard making int do almost everything for a caster and still have crit on gear..