PvP will be interesting for a little while, but they already said they aren't going to be balancing the game around PvP.. I can't even imagine how boring the fights will be between a 100k dps DH and a 100k DPS wizard. The fight will be over the second one person uses all of their cool downs, maybe even before then.
PvP in WoW was ridiculous if you werent in a high end guild playing for hours a night doing raids and what not to have insane gear. I remember being a priest and going up against warriors and just getting instantly exploded in 3-4 hits. Thats not skill, that is just a gear check battle really.
In order for skill to play a part, a PvP fight has to actually last a long enough period of time for people to employ tactics and skill. Like most games these days, it is mainly all about gear, then there is a small percentage of skill and tactics involved. Id say 80% gear, 20% skill.
Sure, you could have slightly inferior gear and still best somebody in PvP with some skills, but it will mostly be determined by the gear you have.
Ive gotten really bored of D3 since beating Diablo on Inferno difficulty. My gear could get A LOT better, but I don't see what the point is getting better gear, for what? To kill Diablo on inferno difficulty again? The game is over for me, at least on my Monk. I just started a new character, a Wizard, and its a lot of fun leveling, but the end game needs so much work. I was playing for 5+ hours every single night after work and I never found any gear that I could actually use.. The most I ever sold anything for in the Auction House was for 6 million, but that was a 1 time thing.. after that, everything i sell is worth hundreds of thousands, not millions.
For me to get 1 upgrade from the AH at this point, it will cost me between 10-20 million per item. The amount of time you have to invest into this game is just too intense for me, as I have a job, a dog and other things going on in my life that I can't afford to spend 8 hours or so a day trying to farm Act 3 siegebreakers for slightly better gear so that I can go and compete in PvP.. so if I still even have the game installed at that point and im having difficulty in pvp, i will probably end up using money to get gear from the RMAH to compete..
IE I will be paying to win, because its better than investing 6+ hours a night into the HOPE that I get an upgrade, or an item worth anything on the AH.. It is so hard to sell anything in the AH anymore.. the people who got to inferno level first and raked in serious cash at the start of the game are at a significant advantage, because the economy now is just awful and there is huge inflation.