Looks pretty good to me …
The stat change means you are speccing for the right reasons (i.e. traits/ability modifiers and not stats). Given armor can be swapped and adapted that is a perfectly good place to move the stats.
The wells are really a non-issue … if engineers can pvp with grenades, you can figure out ground targeting.
As for the three trait lines, it will depend largely on what the trait changes are. Hopefully they have learned enough by now that the garbage grandmaster traits will be mostly gone while the best master traits will be moved up. A combination of any 3 of 6 trait lines that each have 3 different grandmaster traits is more than enough build diversity as long as you don’t have a majority of grandmaster traits being awful. Most of the complaints seem to stem from 4/2/2/6/0 type builds, and those exist mostly because of minor and master traits that are much better than the grandmaster options. The argument that we will have 100 times fewer options is quite frankly pointless when each class has only 4-5 viable builds anyways. Just having a lot of permutations does not constitute build diversity when many of the traits are useless and many more are only useful in a very specific build.
I actually came to the rather sad realization recently that the engi celestial pvp rifle, power nade pve and rabid condi builds are identical or close to identical except in the weapon and stat choices. The skills and traits are so far above the alternatives that they remain identical (mostly because grenades are great and you need to go deep for grenadier, then you always want swiftness and vigor … and you have only a few points left to choose from, even the bomb variant only swaps a couple traits). The alternate build for pvp is turrets, which takes a rather specific combination of traits, all focusing on turrets, and then picks a whole lot of turret skills. Most of those traits and skills are never used outside this very specific build because their value relies entirely on synergy with the other traits and skills in the build.
My only real worry right now is with the current mandatory traits. For example speedy kits is the only reliable way engineers have of getting swiftness on a regular basis. Given the class has no dash or swiftness on weapons, the alternative would be to burn long cooldowns on sub-par utilities to get places. The problem being that if such traits remain, most engis will be using the Tool trait line just to get access to that adept trait.
That being said, Anet have an opportunity to make sure things like swiftness that most classes want are accessible in one form or another through multiple trait lines. For example the engi trait could be split so that the Tool trait line has an option for swiftness on toolkit swap while the Explosives line has swiftness on bomb or grenade kit swap and the firearms allows swiftness after a dodge roll or something.