Try this. Level vanguard to 3. Then go and level all the factions to level 2 and keep leveling until you are a few hundred from level 3 but don't hit 3. The take off the class item and put a regular vanguard item on. Now wait until the next expansion. Then swap the faction item back in and do enough bounties to level the faction. You'll get a reward in the mail for each of the faction. You can time out vanguard and cryptarch to get a total of 5 packages all of the new gear. So to answer your question. It is well worth it and you don't have to do a second of PvP. Unless of course you want to purchase anything.