This has been discussed a lot already, and no it's not going to be happen because of all the people who worked hard for their gears. Some donated a lot, some pve'd for a long time, so it would be quite unfair and the perfect way to kill the server, since it's not meant to be all about farming gears but the PvP afterwards (or further PvE if that's what you're interested in).
Agatio, why dont u make a new armor set similiar to dragon gears, without random stats i mean, but more powerful than this one?, so ppl will stop scripting the whole armor set, and camping def (that makes 1v1s so boring to finish). And maybe on this way u could balance classes too, choosing carefully the stats to put for every class.
Server is long dead tho other then the edaters that only play so they won't be single and the art fans that spam forums for artwork most have left for other games.New gear won't fix the problem it's the fact the game is just boring now no new content can only play dress up so long with fash updates