Im not crazy about the LIs. I want to like them, but they leave me feeling bleh. That and the fact that most of them look like they were designed at 3 in the morning on a cup of milk.
I would much rather have something like Runes of Magic's aggregator which allows plays to skin weapons and armour with the appearance of another... we dont need such a thing for armour, but Id like to be able to keep some of the really pretty shields and spears/javelins instead of having to toss them out because they outlived their usefulness...