WW/FDK/Hpal is one of the best comp in 3s right now. WW monks are not weak.
It's called the walking dead and venruki plays it.
I don't doubt that there is a comp out there that works, but you're talking about one of the best players in the world, who plays with other top players. At my best with a strong team I'm a 1800-1900 player, not even close people like Venruki. I also don't think he feels it is up to snuff at the moment based on the post he help put together with Balance:
http://www.arenajunkies.com/topic/309209-legion-how-to-fix-ww-by-balance-venruki/
I haven't played nearly enough to come to any definitive conclusions, but there are things I can see that would need to be addressed. Torpedo being inserted into a burst rotation since it is one of our hardest hitting abilities doesn't seem right. There isn't much flexibility with our glyphs, you have to have glyph of karma and touch of death, far too risky to play without them in arena (can't speak for every class, but on DK and shaman I always have had more flexibility with glyphs). It is also rough baking a lot of our burst into a rather tough to use ability (fists of fury - can be interrupted by stuns/charges/knockbacks/fears) and the range isn't good either.
I'm certainly not discouraged to play the class, its just too fun. Rerolling to a fotm class that isn't fun to me serves no purpose in the end other than to discourage me from playing.
I'm sure there will be changes though, chi torpedo will have it's damage toned down, I really don't think they intended monks to use that as a mostly damage dealing ability. I would guess touch of karma glyph being baseline eventually. Assuming this happens and FoF either gets fixed to be easier to use or maybe has it's burst toned down and given to other abilities, I'd be more than happy with that.
(Transcendence being instant now is amazing though.)
Curious how they are in PvE, my guess would be their strong since they could keep tiger's eye brew up probably close to 100% of the time.