Another aspect that could use some serious looking at is the optional experience opportunities in many quests. In days of old, most of those were a pittance and it was a no brainer to ignore them. However Turbine has done a decent job of reviewing those optionals and beefing up the EXP awards from them in many (not all) cases.
That affects the rate of experience potential, especially if you are comparing a group run to a solo run. In almost all cases it is inefficient if solo to chase the optionals, but in a good group, you can split up and nab the bonuses pretty easily without spending much if any more time.