Since I had the time to read through the thread more I will make a few comments on KvM gear. I think it's highly unlikely that gear will ever flood the server if exploits to generate a million badges do not happen. It gives something for people to work towards, which is good. You could argue that it invalidates all existing gear somewhat, but I suspect that not all classes and builds are going to be using them.
For some numbers, weapons take 2000 points to get a +0, which is 400 wins. Let's assume it takes 20(?) tries to make a +9 which means you have to be quite lucky. You still need something like 4000 wins to make a +9 weapon. Gives something for the people to work towards when making a god item or acquiring an mvp card is basically impossible.
I disagree that KvM gear helps only biochems and champs due to elemental reductions. For one, you can still endow with holy or cursed water so that glorious rings become irrelevant. Additionally, you have to keep in mind that defense from the entire set is virtually 0, which is irrelevant to both Biochems and champs. You could argue that the extra reductions you receive more than make up for having no defense, but then it's more so reducing damage equally across the board. Does it reduce damage too much across the board? It's possible. Of course, this makes running a BG/KvM weapon worse since there is very little to no defense to bypass.
Glorious rings can and will hurt wizards somewhat, but it's not like wizard damage is anything fantastic already unless you run mind break and a bunch of ridiculous gears. You can already invalidate magic damage if you want with current gear and I don't believe glorious rings will change that too much. You do need to sacrifice two dex accessories or whatever else to run it. I think that's a fine sacrifice to gain 20% extra elemental reduction.
The disadvantage of putting KvM in is that I don't believe the exploits are fixable and will therefore be abused somehow. The advantage is that people are going to need to log on outside of woe to farm KvM and it would likely take quite a while to "finish". Classes that use KvM weapons will never finish basically.
The main point though, without KvM what else is even left? There's new world, and that gives us shadow garbs, but that's it. We already got morroc which did basically nothing new. We're at the point where there isn't any new gear coming. KvM is one of the few things left.