The latter part, too? This seems a bit unfair to people on other realms if connected realms (who, for my understanding, get exactly the same euwowgold amount of server resources as single, non-connected realms) essentially get doubled, tripled, ... (however many realms are connected) maximum logged in players before a queue will happen.
It had been my understanding that the entirety of a single connected realm would have the same population caps as a single unconnected realm.
(I'm also a little annoyed, though much less so, that the toon population cap is multiplied by the number of realms connected as well. I'm hoping that it will just be changed in Warlords so that the account-wide cap no longer is also hobbled by a realm cap.)