I like Townhall quests for their 'sense of purpose'. Aside from direct reward and what you collect along the way, plus Reputation of course, but they also give you an objective. Farming a dungeon with saves or sleeps feels grindy, raiding a dungeon for a Townhall quest feels somewhat more heroic.
There comes a point they stop feelling that, but then Rumour Bosses come into play. But then Rumour Bosses stop feeling special after you pick up your 3rd Justice or whatever. I know it has been mentioned before and I know it's not going to happen, but it's a shame there aren't some very high level Townhall quests and Rumour Bosses.