I posted some time ago that we weren't sure we were going to go through with this change after all. We really didn't like the idea of a paladin having to (or being asked by the group to) keep say Devotion Aura up but swap to the fire resist aura just before an incoming PoM Pyro in PvP or a dragon breath in PvE.
Auras are supposed to be something you generally choose before a battle, not a reactive ability like Spell Reflect that you swap in and out of depening on what is happening in the fight. Getting rid of the GCD makes them feel like you are supposed to use them reactively.