I maintain that the problem is not the champion system, that is a very slow progression. The problem right now is that we have two progressions simultaneously deployed when they were never meant to coexists. Once the Veteran Ranks are eliminated the distance between level 50 players and level 50 players that have champion points will be considerably smaller then it is at the moment, fixing most of the problems mentioned before.
Unfortunately we have no way of knowing when the Veteran System will be finally removed. Zenimax has failed to do so or even explain how they intend to do it, which leads me to believe they have no clue how to do it.