I just took the plunge and did a Faction change on 5 of my toons.

Before the change I was running all the Icecrown Dailies, had every phase unlocked for all toons.
After the faction change I was surprised to see that it was all reset but I still had my rep from before. I knew I would have to do some of the quest but there are more than a few that are exactly the same on either side.

On the plus side... rep stacking on the down side.. crap I have to run them all again....

Is this typical?