From what I'm reading from progression guilds thus far most people tend to prefer Priest healing and Discipline does not seem to be any less popular or less efficient compared to Holy overall. It all depends on the fight and the mechanics of course, but after 6.0.2 Blizzard seem to have gone down the more old fashion route of healing, making so that tanks are taking most of the damage and making so healers are supposed to mostly focus on the tank in normal, heroic and RAIDs. I haven't started on RAID's just yet, but from level 100 normal and heroics it's pretty clear that in order for DPS to getting massive hits on their health they need to be rather sloppy in their movement. Most if not all AoE damage from mobs and bosses comes from various mechanics DPS players should be able to avoid after they get comfortable with the fight.
The worst dungeons thus far for me have been Grim Rail Depot and the only reason why I as a Discipline Priest have a hard time healing the entire group in this heroic is due to stupid DPS not avoiding bullets from the second boss. It might be that I would be able to keep them alive even though they completely ignore the mechanics as a Holy Priest but I tend to prefer to have better control over the tank with Discipline and it seems to be the optimal way to go for progression thus far in the expansion.
The major problem I'm having with Discipline Priest is Enyo and Honorbuddy is the combat routines. Whereas Singular is capable of healing better than Oracle at the moment it's not using a sensible rotation of healing. When the tank gets major drops in healing it will use heal instead of flash heal which makes no sense, and it will completely ignore Clarity of the Will and Singular is crazy inefficient with mana so with a group of slow DPS you will run into trouble. Oracle on the other hand just feels broken to be honest, it seems to have a better overall rotation but does not seem to take encounters and situations into account at all. Running from fight to fight with Oracle completely ignoring the tank at 50% health before the next battle and having some very awkward idles mid-fight and whatnot makes it more or less useless. When it works it seem to be doing awesome, but I have yet to have Oracle II working throughout an entire dungeon in Warlords so I'm forced to use Singular and just hope the DPS is good enough for my bot to not run out of mana before the boss fights are done.