That's been my impression so far. I'm still trying to figure out how to work Holy Shock in, because it's definitely not Riptide, and when to use WoG vs saving HP for LoD. Also, just generating HP, because I'm used to using my efficient heal (from playing Shaman, where it casts really fast under Tidal Waves). Because HW and GHW cast so quickly (again, under Tidal Waves), Holy Light and Divine Light feal really, REALLY slow.
As Mazra said, "interwoven" is a good word for pally healing. Up until 4.3, Haste was the best secondary stat for throughput, and it contributed to subjectively speeding up the long-cast spells. In fact, even if it might not be clearly tops any longer, a lot of healadins are keeping quite a bit just for the "feel", on the PTR.
As to when to use LoD, that's very simple. "25-man raids". Possibly 10-man Chimaeron. If it was off the GCD and didn't use HP, that /might/ be another story. But as it is, there just won't be enough targets to make it worthwhile, and you won't have a 3-stack at the exact same time they need it even if you did. And you have a better AoE spell in Holy Radiance, that in 4.3 won't even have to be targeted on yourself. There are very few situations that HR-HS-HL-WoG1-HS-HL-WoG1 won't save that would have been helped in any way by even a LoD3.
Building up HP is individual playstyle. I tend to lean towards one DL on my beacon target (net one HP) over two HL on the raid (net zero) - mind you, you should always be casting HL when you're doing nothing more important, anyway (it's basically mana-neutral). You do have to learn how to weave HS in, but there has basically always been one weave in Judgement already (4.3 will turn this from a weave to a periodic refresh). Some people try to do an extra weave using Crusader Strike (since you should mostly be in melee range of the boss anyway for seal procs from autoattack), but I consider this excessive.
Plus, there are a bunch of cooldowns, not just Wings, GAnK, and the other one, but the Hand spells can be extremely effective (particularly Sacrifice - which BC healadins learned to use at Maiden of Virtue - and Protection). And Lay on Hands, where the cooldown is so short now that it can be used for every other boss try.
TL;DR - Always Be Casting (holy light), ignore LoD, Haste Is Good (just not clearly the best anymore), Holy Shock and Judgement on cooldown (until 4.3)