I mentioned earlier that 2.4 is supposed to make S2 available for honor. I want to make sure it's understood that I've not anywhere seen that actually written by a Blizzard employee, but it does seem to be common knowledge among some of the more well-informed.
Aforementioned well-informed individuals seem to believe that patch 2.4 will be out in mid-April, making note that the patch has not hit the live test servers yet and will need time for testing.
So figure 3 weeks to a month before it hits live, and 4 to 6 weeks of testing and it makes sense.
So whether waiting and saving up honor to spend on S2 gear is worth it depends I guess. 2 months is more than enough time to get S2 with Arena Points. None of it will matter anyhow when WotLK comes out...