The hour long game I lost last night makes me say YES!!!!
Does PvP Need Fixed?
No it does not need fixing outside of the queing system and the odd unbalanced power or two.
Does PvP Need Balanced?
On a ship level I say yes, even with the new (saw it coming) cloak issue that exists. Most players will soon see that the ability to cloak is a non-issue and the Klinks just liked it for the bonus to dammage. Ships and powers are fairly well balanced now and are getting more so with time a tweaks.
On a player level, PvP will never be balanced as skill is not a balance-able factor.
SO I say pvp is not broken in function, merely appears so to the inexperienced or those that expect to be Kirk or Sisco and are upset when reality is otherwise.