I agree with the above, surely there is a way ANet can build some logic around this to make it work for everyone. One OCE/SEA server would probably suffice, but once it's announced I'd expect a fairly large influx of players so you may need 2-3 initially.
PVE would be much more palatable than it is now for us OCE players.
For the PVP portion of the game it should, as stated above, match with other OCE players then open to US if queues are too long. This could help people get queues in the middle of the day in OCE. When a game is found, it is hosted on the US side so that US players are not hit with 280 ping.