I had the same thing on my parses actually, very high miss rate, 10-13% on a lot of stuff, despite having around 70 hit rating. I'm going to focus on it a little bit more and see how I go, it seems an easy way to boost dps by 10%, frankly.

95 hit rtg = 6.02%
+ 20 feral combat skill = hit cap.

Once I made this happen, my dps became competitive with the rogues and locks. I'm still learning energy management, and have been using:

Calculator
Agil vs. Str

I feel pretty content if I'm top5 on the meters...a feral druid simply should not out dps most other classes (so long as their gear,skill,knowledge is comparable)

With the changes to the energy tick system, powershifting has changed a bit recently.

The basic premise is that you shift out and in when you're low on energy (<10 for decent gains). Furor will give you 40 energy straight up, so you end up gaining around 30-40 energy dependant on what you started with. It always used to work like this, with a "perfect" energy gain as long as you shifted in between energy ticks, making the maximum of 40 energy gained very easy to do.

Over the course of two minutes or so, you could easily get around 180 energy (5 shifts worth, minus a few per shift for "imperfect" shifts) if you were paying attention. 180/42 = 4 extra shreds (168) with a bit left over for dodges/etc. 4 shreds at around 1500 damage each = 6000 extra damage without crits, or ~13000 damage with (50-100 DPS or so), plus 4-8 combo points (probably another 30-40 dps on it's own).

The system has changed slightly to reset the energy tick to when you shift back into form (i.e. it's now an individual energy tick instead of a global one). This means you have to be quick on shifting form, or else you'll waste some more energy than before. Depending on how good you are at timing it and how much energy you started with, you should gain anywhere between 20 and 35 energy or so. Lag inherent to the game along with reaction time makes it vitually impossible to be gaining the "maximum" 40 energy that you might have in the previous system. On average I estimate the gain to be around 25 per shift (assuming normal amounts of lag = loss of 10 energy, plus 5 energy wasted on average from before the shift), instead of the previous 35. It's a pretty big change, but it's still worth doing if you do it right.

If you find you have mana problems, you can always use mana pots (I carry a stack or two of the combat mana pots - they stack to 10 and are free with battleground tokens). If you want to skimp a bit, make sure you have a healthstone (saves the 900 mana for regrowth), get Int and Spirit buffs, and try and combine shifts for things like innervate/combat res with your cycle/powershifts, instead of just doing it blindly. You'll also find that shifting to bear in BT/Hyjal is pretty useless, as either the things hit so hard you'll get gibbed in dps gear, or you'll get gibbed before you can react. Having faith in your healers should be an obvious thing, and (as I've said in previous posts) you shouldn't ignore stam as a DPSer (after all, you don't do any damage whilst hugging the floor).

I'm working on my LC rep as well and it indeed seems endless - actually it already seemed endless to get to Revered for the epic flight form (best thing you can get in the game by the way). However there's a nice way to do it quickly, even though it's quite unrewarding except in terms of rep: find 4 other persons who need the rep, and run SL in normal mode until first boss (+ maybe the first big demon in 2nd room, easy 24 rep). Lather, rinse and repeat. If you run it with guildmates who are geared like you, you can do that in about 20-25 minutes max, for 700 rep each time. You will quickly get into a rhythm and just chain pull. If you can get a pally tank, all the better (and quicker). You should be able to get 2k rep per hour very easily. Ok, given where you start that's still 10 hours of SL, but it's perfect for raid backup and it's so easy you will even have ample time to chat