Hi all,
To let you know we have changed the rate of decay today to make it a bit slower. The effect may not become apparent instantly (as servers need to update etc) but hopefully over the next few days you will notice a difference. Also just to clarify, your reputation should never decay below friendly (or above unfriendly).
Adam
What I am now going to say is not directed at you personally, you're probably just the messenger:
You completely missed the point. The problem is not that it is this extremely fast, we all know it has been massively sped up. The point is that we'd have to redo the same work, over and over again, that something achieved, becomes undone. So you cap the decay at friendly/unfriendly now. It boggles the mind why that was not the case already. And still, I don't think that is enough. A level that has been reached should remain persistent. Let the buffer above allied decay so that you are just slightly above the minimum reputation for that level, but keep the level*. That is, if you insist on this game mechanic. I still stand by my word, just remove it entirely. It adds nothing positive to the game, only a lot of repeated extra grind and busiwork, and maintenance.
P.S.: The next time, could things like these be highlighted and explained better in the patch notes, please? A change as massive as this, and all it receives is a short line in a long list of minor tweaks and fixes. This should have been prominently at the top, right next to the changes to the crime system.
*Ah, someone explained it more eloquently than I:
1) Major and minor faction reputations should not decay towards Neutral, but instead towards the boundary trigger for the player's current ranking in the neutral direction. (edit ninja'd by Adam

) The consequence would be soft preservation of ranks earned, but a small change in behaviour might cross the boundary with very little effort. Take the (fairly common I imagine) example of a Cmdr who puts a load of work into a minor faction rep. The faction might see the Cmdr as a total hero who is Allied by a healthy margin. If the Cmdr then moves on for a year (say) and returns, it can still be safely assumed that he/she is Allied, but reputation decays to the point where he/she is considered to be just Allied now based on fading memory. This also works in the negative scenario, where someone who was considered a minor criminal some time ago is still remembered as a minor crim but a few good works will return a neutral rep.