Hey Crazy, so from what I take from your post is, you are really looking in the the raid utility of the class and surviablity. Im in the "other boat" as it were. I have my Prot warrior for my raids and have an alt pali that im working with. So im not that well versed with the pali side. But i can touch base on why I prefer Warrior over Pali.
About the ever elusive Warrior (Passive) block cap, you are right, Pali has a far easier time reaching it than warrior, but warrior can still reach it in current content while sporting heroic gear. Prior to that its all about mastery food and elixer.
As for warrior CD's? Well, for the most part they all fall fairly close to a pali, so I cant really put too much into that other than its not only the big Cds that make a warrior and enjoyable experince. Pali tank are in a great place atm and are the most powerful tank in current content. So if any thing it should really boil down to play style. Pali with slightly better CDs and or a Warrior with the slightly weaker CDs, But the thing that trumphs all of the pali stuff for me, as prot Warrior you have truck load of stuns (atleast 4 depending on race). But For me its mobility, you can zipp around alot faster than a pali, 2 types of charge that can be used as an intrupts as well, innerve to save some asses or to quickly get out/away of something, and we get the skill "No path avalible" (also known as Heroic Leap) great for kiting and getting around. This mobility is that selling point for me.
Sry I couldnt put things in to a better mathmatical term, but honesty Play style should be what ur looking at. If your guild is chasing world/server firsts and you need to min/max, then I say get them both geared up, and use which ever one is strongest with current content at the time of need.
Hope this helps!!