I tried to create a neut pvp toon, and I've determined that it's just nonsense self-gimping folly. It's just a depressing waste of time, because you will always suck harder than your opponents of equal skill.
The only current and valid reasons to be neutral I can see are 1) for RP reasons, 2) if you have friends on both sides (and don't want to create toons on both sides instead of neither...), 3) if you just want to be able to do inferno missions with both alignments, or 4) you just want the extra challenge.
If you fall outside those 4 reasons, you should not be neutral currently in the game, because you're just gimping yourself unreasonably.
Obviously the game isn't unplayable as a neutral toon... It's not like the challenge has become Oh So Great. In fact it's quite the opposite, I think everyone can agree that AO has lost a lot of its challenge -- the greatest source of hardship in the game is trying to do everything solo because you have no one to play with, and this hardship falls hardest on the new players.
Therefore, I'm of the opinion that as long as the game devs feel like neutrals BELONG in this camp of inferiority, there's no reason to give neutrals better neck items or twinking items or anything of the sort that clans/omnis have. The status quo meets this end just fine. Being neutral isn't an extreme gimp in PvM, because honestly PvM used to be that hard anyway. Suck it up, you're probably just too used to being coddled.
I would say that I wished being a neutral PvPer was viable. But right now it's just retarded, and near as I can tell it's always been just retarded, and I've seen no indication that the game devs want it any other way. So there you have it :P