So this topic (along with yet another "profit" question in my log, ho-hum) made me really "think".
I think the "best" answer for a general response to what tends to get repeated and asked over and over and was by EP: it got "outdated".
To be a bit nit-picky, the stats on the Blue Sword are not "necessarily" worse. Keep in mind that the attack is better and max stam component is better. You also have three additional enhancements.
And again, though perhaps a wee bit off-topic, I'd remind people that Epic is not something that has to do with supply but what is required as a feat to get them. Some of those feats have become "easier"... to a degree. Such is evolution.
Other RP items:
But to get back to other RP stuff: I always thought the Bladed War Gauntlets were pretty cool. I never bothered to get them, but hey. I just did a search for Epic gloves from levels 300 to 1,000. I think they still stand out. But that is completely subjective depending on the game aspect/stats you are most interested in.
Along the same lines, Vine Tendrils also seem to still go for a lot of FSP and that's what I would spend my RP on, personally. That's because of my personal preferences and my thoughts could easily also be outdated, lol.
GvG:
First, I think you'd have to remember that RP has a lot "possible" uses. Some of which have also become "outdated". A lot of guilds used them to buy the buffs. I still see a variety of guilds doing that. You might also think that the RP items (plus what they could make) are unbound and the ingredients go for what might be considered to be an "interesting" amount of FSP. Personally, just last week I was contacted to see if I was interested in selling RP items. I said "no".
Conclusion:
Mostly I disagree with your assertion that GvG items are "by the far the hardest and take the most time to get".
According to my calc, I could start 13 conflicts for 100 hits for less than 17 FSP. Assuming my Guild lost or only managed a draw on every single one of them, then as long as we did the full number of attacks, we would have enough RP to purchase Bobanarts. In my book, that's not that hard.
Like most things to consider in FS, there are a lot of options. There is also work involved. But hard? I don't think so. And, as usual, if it is not worth it to you, don't do it. I am quite sure there are players and guilds out there that do find it worthwhile.... for whatever reason.