erm.

The first week I played my Feral, I traded VP for Conquest points. The conquest points gained from VP, were added to my cap. I had like 300 conquest points. Added 600 from Valor. My cap was 1650. So I could still get 750 points from Arena/RBG.

So if your cap is 1650, and you got your 1650 points, there is no way to get more conquest points. I think this contradicts your conclusion if I follow?