I believe potions, restorative at least, simply don't scale well enough. At lower levels, appropriate level potions are amazingly useful, but at 50, even using HQ X-Potions is of debatable worth, and only getting worse as players HP gets higher. So yes, I'd agree to either increasing their effectiveness 'or' reducing their cooldown.

As a side note, Antidote's used to be practically a must have outside of a group, as poison was just devastating. Thus, their value and cd were right on par. However, after enough complaints about OP poison from players, the status effect was dropped to practically non-existent, so they might as well remove the cd on status potions entirely. If you're willing to carry around full stacks of them and burn them off constantly to combat negligible effects, then more power to you. This, of course, may well 'not' apply to PvP.