Really, the only point of towns is having all the trainers/bank/AH in one place. You can already vend & repair stuff almost anywhere now - there are very few areas where this is more than a couple minute run away.
They have added so many flight points now that it is not all all difficult to set your hearth to a major city, hearth back when you ding, then fly back out to wherever you were questing all in a matter of a few minutes.
Unless of course you're leveling purely via dungeons & bgs in which case you just plant yourself at the trainer and stay there, wandering around the corner to repair and auction as needed.
tl;dr: I don't think it's something we really need.