Thing is the lovebird is boe so if you put effort into it you can farm a second one to sell at a later date. Either you do the dailies with an alt to get an extra mount to sell or you farm like a crazy person to get another 270 tokens on your main. If you just want a mount for yourself though the dailies should be enough.
I think this tokens farming thing is really great seeing as you don't -have- to do it, but there is still the option to. A friend of mine is on vacation and will miss more than half the event, but she still has the chance of getting enough tokens to finish everything because she can farm the charms or simply buy the bracelets off of someone else!
My favorite spot to farm so far has been one of the questing areas for the argent tournament in icecrown. The cultist type mobs there use the dynamic spawn timer and being a priest I just run and dot everything up, I never have to stop moving and once you get going the respawn rate becomes almost instant!