The short answer is yes, holy crap, grab that Honor set. I've been using the set myself for a while (upgraded to 483 Conquest), and it is extremely strong. Let me make a basic comparison with some fudged, rounded numbers.
Using the 4-piece set, I am able to cast 6 Word of Glories/Eternal Flames each minute instead of 4. This assumes that you are able to gain 12 Holy Power per minute (not counting the set bonus!) through your usage of Holy Shock and casting Divine Light/Flash of Light on your beacon target. If you gain less than that per minute, the impact of the PvP set is slightly reduced (and this would be the case as you don't yet have the spirit needed to cast Divine Light with abundance).
This is a bonus of 2 WoG's/EF each minute! This means that I will get to cast two free, instant heals instead of two Divine Lights that I would otherwise need to cast to keep my party members alive. 2 WoG's is faster than 2 Divine Lights, as well, so we get time to throw out some Holy Lights if we care to.
WoG heals for a bit more than Divine Light, more than double if you have the Eternal Flame talent and you cast the spell off-beacon to take advantage of the 50% beacon transfer. Divine Light grants Holy Power, however, and two HP cancels out one WoG, so these all kind of even out.
So what does this mean?
Each minute, we get to save the full mana costs of two Divine Lights AND gain 3 seconds of spare time. Divine Light is 21,000 mana. Two would be 42,000 mana. Divide that by 60 and you get 700 mana per second, or 3,500 Mp5.
The four piece set bonus is worth over 6,200 Spirit in situations of moderate to heavy damage, like raids (I wouldn't price it below 4k spirit for Heroic dungeons). On top of faster healing. And greater HPS. And a lot more chances to proc your Divine Purpose talent. And this doesn't include the 2-piece set. I could work the math out fully, but these numbers should give you enough of an indication.
So yes. If you don't mind doing some PvP, or you have enough JP to convert to Honor, grab the set. Use it with Eternal Flame and Divine Purpose for much awesome. Do not replace the 4-piece until you get all four pieces of 483 LFR PvE (yes, the LFR PvE gear set is stronger than the Honor set, in part because of the higher item levels). Cheers!
Edited by Wards on 12/18/2012 9:31 AM PST