Yeah, the subtext was definitely there for Cameron and Warren, although I never got the feeling Cameron's feelings were reciprocated (that was the point).
I also agree with your comments about how disappointing X-Factor was, back in those days. In fact, to this day I find the original X-Men boring, bland and uninteresting, largely due to early X-Factor. Same with Apocalypse. It's funny how impressions you make in your youth stick with you.
I have that opinion about the O5, as well, but it predates X-Factor, and it's only when the 5 are together. It comes completely from my reading the 1960s X-Men books. IMO, Beast was better as an Avenger; I still mourn the passing of the New Defenders and Champions. That team will always be the team that deservedly
got X-Men cancelled once upon a time.
Apart from the shadiness of the X-Terminators premise, I thought X-Factor was still the best that could be done with them together.