Free For All in The Old Republic?

Signs point to yes.

Those who enter Outlaw's Den become flagged for PvP not only by the opposing faction, but by their own faction as well. ...

 The zone contains a slew of the highest level gathering nodes for each gathering profession throughout the area [and] nodes akin to "Treasure chests," which contain Mercenary Commendations -- the currency for PvP'ers to acquire better equipment and supplies

One concern for me is the location - Tatooine - is a zone you're supposed to spend a lot of time questing in - around the mid-twenties level range. Having rabid zergs of level 40's roaming around in the same planet as a bunch of much lower level quest lines is asking for trouble, no?

Also, I thought Ilum was supposed to be the place to be for end-game Open PvP? Now it's like you're giving the side losing in Ilum an excuse to give up the fight and try to farm mats and medals in a less-populated zone.

 The central portion of the zone contains [an Auction House]. 

Sounds like there will be cross-faction trading of goods, like in WoW. Beta testers were saying Bounty Hunters could dress entirely as Troopers, Agents count dress as Smugglers, etc. Doesn't sound stupid or confusing at all.

 A "Pit" area is sectioned off specifically for duels.  

 I don't understand the purpose of explicitly making an area just for duels, most people duel each other right outside the main city or the easiest meeting place between two factions, right?
I don't understand the attraction of a 'duel spot' being put in the middle of a sprawling lowbie zone, in a lake where literally any and every vindictive twat with mommy issues can jump in and interrupt the duels or 4v4's / 8v8s, whatever.

[There will be] rare vendors who sell a variety of unique and distinguished items like rare mounts and social gear. ...items that are likely not found anywhere else in the game. ... You can essentially stroll into Outlaw's Den, clean house with your Guild, buy up everything you need from the vendors, and slay said vendors so that nobody else gets the opportunity. 

Yay, scrubby all-night zerg guilds can swarm the vendor, buy out all his shit and cockblock everyone else by killing him. Sounds swell.