I have to say I love all these ridiculous numbers being thrown out - really 4:1 or 8:1? There's absolutely no basis for those numbers. There does appear to be a population imbalance, but don't get silly.
Please no XP boost for the republic either. I'm already outlevelling content as I go - I don't want to level even faster than I am now.
Showing a ratio is also a terrible, terrible idea. Nobody wants to roll a toon on an unbalanced server - at least not for the minority faction. In fact there are some people who would WANT to roll for the majority faction on an unbalanced server - it means plenty of other players to group with.
Finally, locking servers is perhaps the worst idea of all. Why would you prohibit someone from being able to play with their friends? Sounds like a good way to get people to not purchase the game.
Sadly, all BW can really do is hope that the issue sorts itself out over time, and maybe add some more interesting content to the republic side to encourage rerolls.