Logged on to my Hunter (pledged to New Monarchy), collected my Faction Rally reward (Loquitor IV), and realized it was only 328; regardless of the fact that my Hunter has three unique, full sets of armor, all at 335 (base 330), and logged right off. I realize Bungie never guaranteed, the Faction rewards would drop at current power levels; but I persoanally found this to be unacceptable, and simply turned it off for today.