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While I haven’t given this idea much thought so there may be some aspect which is particularly mong, I think it would interesting if players could quest/pay to basically replace the model of one type of item with that of another of the same type.

Typically most players will just dump an item if it doesn’t perform as well as their current one, regardless of how cool it looked, and so a lot of hot models/animations/effects end up not being used much in favour of ye olde ubergear.

So just thinking of fluff, it would be interesting if you could convert your boring hammer of uberdamage to look like a sparkling hammer of crapastism, for a cost. That way you could change your gear without losing the performance. At the very least, players who like playing dressup (women) would find that pretty cool, and I imagine most guys still like their toons to look buff. So a bit of fluff could be a money sink perhaps.

I guess the main concern would be if it opened up dupe exploits or something. Also don’t know how altered items like that would affect the economy.

Anyways, don’t know if that was miles off-topic, but to me, how cool your char looks is very much in the fluff category.