I don't see any problems with soulbound items as they are. If you are going to use it, fine, if not sell it. If you can't use any of the quest rewards, get an addon like Auctioneer and use it to tell you which of the options will sell for the most and choose that way.
If anyone could have their soulbound gear DEed through the Will Not be Traded box, you would end up with a bunch of mats on the AH, killing the market for Enchanters and folks that DE for money. Enchants would become worthless, mats would become worthless and you wouldn't be making the bookoos of money you think you would be making.
One of the main reasons quest rewards are soulbound is to encourage players to complete the quest to get them theirselves. I could do a quest of a UB3R cloth piece and then send it to an alt, then everyone would have kicking gear all the time.
I sign the petition to keep it exactly how it is.