1. Change Inquisition. Having to work up 3 Holy Power to put up Inquisition at the start of a fight is not fun. I have four possible suggestions:
A) Change it from costing Holy Power to costing mana.
B) Make it do significant damage.
C) Remove it and make the buff it gives baseline for the spec.
D) See 2 below.
2. Give Ret (or perhaps all Paladins) an ability that generates 3 Holy Power instantly, perhaps only out of combat. In Cataclysm, Prot could generate 3 Holy Power by hitting Divine Plea. Monks can do it with a self-heal, rogues can (or could in Cata, haven't checked in MoP) generate Combo Points with Preparation, and so on. It would remove the annoyance of putting up Inq. at the start of a fight, and allow us to self-heal with WoG or boost run speed through PoJ. It would add more interest to the rotation if it could be used in combat. The length of the CD is the only question.
3. Give Ret Consecration back. AoE feels ok as of right now, but the re-addition of Consecration with a reasonable mana cost and good damage would make it perfect. We need one more tool. Consecration would be better than Holy Wrath.
As far as I'm concerned, everything else about the spec is fine, it's working pretty well and is fun to play. Inquisition is the big problem, and they don't seem to realize that it doesn't work for the Paladin rotation the way it works for say Feral druids (Savage Roar). And they even gave Feral a glyph that lets you use Savage Roar without combo points. Something needs to be changed when it comes to Inquisition.