Is the statloss timer is running while logged off (or on another char) ?
Because if it is, 10 mins statloss is totally ridiculous, because of the fact that you can now have several faction chars on one account; this said, I understand those out there who're playing a lesser populated shard (or a non-active faction shard), but I don't think the whole system should be changed because of that.
Faction is meant to be big battles; in those conditions, if killing a guy means nothing, what is the point ? A good old guild fight or FFA at Yew Gate is worth the same (for what it is ... yeah, house running is not my cup of tea.)
The Factions, as it WAS working, always had sufficient people needed to play it.
Of course, there was some peaks of population at some times, but basically, we had all we needed, and the system worked well enough to avoid massive quittings.
EA Mythic gotta get it right, because factions may be a very good card in UO's hands; I hope they realize this. (and Im sure they do ... just unsure about the "screwing up" part, which can - and has - happen.)
edit@JoO: thanks, mate !