It may be a bit of a stretch but:
1) All legendary weapons can be upgraded to the 365 cap with Etheric Light in House of Wolves, according to the most recent Twitch stream.
2) Currently, any post The Dark Below Iron Banner weapons can be re-rolled by Lord Saladin whenever Iron Banner is active.
3) Does this mean then that, after HoW drops, if I upgrade my old Jolder's Hammer, for example, from 300 damage to 365, it becomes eligible for rerolling the next time Lord Saladin comes around? Could make things more interesting for those of us who pretty much kept away from Iron Banner since 2.0.
TL;DR: Will upgrading old 300 ATK IB weapons to 365 allow for re-rolling with Lord Saladin, post HoW?
Just a thought…
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If you're asking about rerolling an old IB weapon AFTER you've already spent etheric light on it, my guess is that it will reset the weapon back to it's original 300/331 max and make you spend another light after you've redone the exp on the weapon. I don't know for sure, but it's supposed to reset all progress back to the weapon base when you reroll.