However, is paragon really necessary? Seeing as NV stacks and other goodies will be available pre level 60, that is no real need for the level 60 cap.
End game - Loot runs and neph trials should be available after unlocking something rather than the level 60 cap.
With the removal of paragon, stat allocation will be available from level 2 onwards and all current characters can have their paragon experienced gained converted into levels/stats. Since there is no level cap anymore, this will work in a similar fashion to the paragon 2.0 system but with levels as a driving factor.
Along with the removal of the paragon system, players will be available to play the game as they like after they have finished normal mode, Adventure mode etc(taken from the data mined information.)
Also, since there are no more level caps, Reaper of souls will offer the new class, story and new spells for existing characters instead of the previous (level to 70)
Grinding characters to 60 just to paragon level, experience end game is very time wasting in my honest opinion.
This may be a con for those that play limited hours a week because there will not be any account bound levels.
My opinion on the matter: After experiencing account bound paragon levels on the console, I find it unnecessary to play other classes than my monk which was the most efficient class to paragon level. Once I hit paragon level 20, even loot didn't feel compelling any more and I doubt stat allocation alone would have fixed this, hence the new end game options blizz are implementing.