So, the new LIs "conversion" is not as bad as I feared. You appraise the old LIs (but they remain usable and unaffected). You unequip them. Barter for your new LIs, equip them, and you have plenty of ancient scrolls to barter for your new traceries.

Now the difficult part, at least for me. The equivalent to the old legacies are the Word of Mastery. These have more or less the usual skill buffs. Extra damage, healing, reduced cooldowns, etc. In what was probably overkill, I had 6 LIs. 3 sets of weapon and bag, for my RK. One set for Cleansing Flame (Fire DPS), one set for Solitary Thunder (Lightning DPS) and one set for Benediction of Peace (Healing). But there was a lot of overlap between the 2 DPS ones.

So my question would be, should I have 2 sets now. One for DPS in general and one for Healing? I'd like to see what other RKs are choosing in terms of Word of Mastery traceries, as I'm a bit lost myself.

So far, I have focused on getting Fire related ones as that is the preferred DPS build, so I have;

Do Not Fall Cooldown
Searing Words Damage
Wrath of Flame Damage over time
Writ of Fire Damage
Combustion Damage
Distracting Frame Cooldown & Damage
Essence of Flame Damage

And 5 empty Word of Mastery slots. I can't see any more Fire specific traceries. Should I slot in some Lightning related ones and that's that?