I agree, we do not tank as well as Guardians and I think we should (based on SOE's comments that all fighter classes were designed to tank equally well). But we are not bad tanks either. I was tanking in a group yesterday (I'm a lvl 36 Monk) and I did just fine taking on lvl 40 and 41 ^ ^ mobs and their friends.
I can be patient waiting for balance and I do think we take more damage than we should with con orange/ red mobs. But for lower level mobs (that con green^^/ blue^^) we are choice tanks for healers that know better. They will use very little mana healing while a Guardian will take damage.
I find my most difficult part of the game is not game mechanics at all, its simply convincing other players that we are tanks, even other Monks I play with think I'm crazy to suggest we are tanks.