Just wanted to reiterate my personal views on the matter:
1) Payouts for Activities (Missions, Bounty Hunting, Exploring, Mining, Trading, smuggling, Power Play) should scale somewhat to the amount of effort put in by the player doing the activity (& hopefully new game mechanics will allow for that). For missions this would be scaling with difficulty and/or danger.....with a multiplier for your faction reputation, for mining it might mean that randomly shooting up rocks will yield very little, but using prospectors, detailed scanning & other tools will provide greater reward......both in the payout & the experience. Trading/smuggling could also be better scaled by how far you go to trade (similar to rares ATM) & the danger you put yourself in to complete the trade......& so on & so forth. So basically, people who just want to grind can do so, but should expect little reward, whereas those who want a more varied & interesting experience will get a payout to match.
2) Favours-can't stress this one enough. Rank & Reputation need to be "tradeable currencies", for a whole range of in-game benefits. Discounted ships & modules, "experimental" ships & modules (that can only be purchased with favours), off-the-shelf updgraded modules, shortcuts to Engineers, military rank & power rank, tip offs & rumours related to upcoming CG's & system states, haggling over mission payouts, tweaking of module upgrades.
3) With #2 in mind, diversify what constitutes a payout, for any activity, to reputation, rank & materials.
That seems to be the best way forward IMHO.