Few things I thought I'd add since it's kind of relevant to the discussion:

1. The honor tokens purchased with the shards are account bound - you can send them to other toons on the same account. So you can use your shards to start gearing a 2nd team if you've already gearded your primary team. Note - you can also use the Wintergrasp Marks to buy honor tokens (9 marks = 1 token)

2. Honor tokens can effectively let you get past the 75k honor cap, so they can be useful to store up if a new arena season is starting soon (which means a new tier of honor gear).

3. If you reach the 75k honor cap, use some of your honor to purchase epic gems (10k honor each). The cost of the gems is low enough so you can keep yourself near the honor cap without having honor points go to waste.

Cheers,
S.