IMO the HP thing is a good change.
The kick start helps solve the screwy power curve at low levels.
And the rest seems to be power creep in areas where the power was a bit lagging.
I'd be fine with re-tooling the favored class part. For example, I've already offered dwarf fighters +1 HP and Elf wizards +1 SP in my games for a little while now. (Since before I saw the PF version). But I don't allow Wizards to get more HP for favored class. That said, it isn't something I'm worried about.
I share a general hesitancy about about power creep. But PF is setting a new baseline. And it really isn't moving that far. The next year may tell a lot, but I'm very optimistic.