Yes YES give it time, soon we will lose all the negative impatient people. I say leave ilum in a bit longer before you fix it. Its weeding out the people we dont want!
Seriously though... give them a bit to fix it. There's no big red button that they can press to magically fix everything and wipe your *** at the same time.
Yes - It sucks. Big time. Yes - its a fail fix. Yes - we will see a fix.
FFS - its like no one ever experienced a bug/faulty patch before... its almost like no game ever gave out arena gear for free before and waited a week to address it... oh wait...
Cancel your account if it makes you feel better but posting on the forums and saying you canceled your account doesn't do anything except show people that you are still attached to the game.