The only reason I like the Old Horde, compared to the New Horde, is that they never really lied to themselves. They knew exactly who they were, what they were doing, and sought no excuses or justification. The Old Horde never lived a lie, pretending to be something they're not.
See, I don't think the New Horde is 'lying' to themselves, so much as they have conflicting ideals within their ranks. We have characters like Thrall and Saurfang and Cairne who believe the Horde should live peacefully and show restraint when dealing with enemies like the Alliance. Then we have characters like Garrosh and Sylvanas who take a more 'might makes right' and conquest-oriented approach to their leadership. And again, even Garrosh and Sylvanas are conflicted on how they approach their similar ideals.
As an example, it's like any country with a democratic leadership. There'll always be at least two parties with differing ideals, and different people will support different groups. If the group they want is in power and acting in the way they want, of course they'll go 'yeah, that's what my country stands for!' But if the party they don't want is in charge, or even if the party they want is but they're leading in a way they don't like, of course they'll try and disown the party and say 'this isn't what my country stands for.' To me, this is where the problem (and story interest) with the Horde lies: the struggle between those who want peace, and those who worship war.
The New Horde, at least, has some good story, but I've begun to feel it's wasted on them. That's not exactly due to anything with the New Horde either, but more to due with lack of proper in-game Alliance development. The Horde can get as polished as it wants, but when it has a mostly inactive enemy... Can't really fight a war without someone to fight against. We really should see some Orcs in the stormwind zones, Forsaken in Duskwood, Trolls in Dun Morogh, etc...
I agree with the idea of putting more Horde forces in Alliance zones, but I don't feel the Horde is any more or less ineffectual because of the Alliance. It's more the approach they take to treating the Alliance that defines them. Likewise, the problem with the Alliance is that if they're ineffectual in dealing with the Horde, that reflects more on them than the Horde.