Did you read the Gameinformer article about TTK? I think they took it the wrong way. Its not "un-upgrade-able", its "pick it up and use all the perks instantly". I may, however, be mis-informed, correct me if i am.
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They said current gear won't go any higher than 365 attack, but they didn't say they wouldn't get [i]stronger[/i], necessarily. It sounds like new weapons wont even HAVE attack values, but are switching to light levels, instead. So, I think they might be choosing their words carefully, because if gear is switching to a new system altogether, old gear obviously would rise up according to the [i]old[/i] system, haha. But, I'm also just being hopeful. XD
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I've heard that they are done w/ light levels and are going straight to just xp. Thus exotic class items
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Your base level will no longer be based on Light Levels, correct. [i]However[/i]; it looks like armor is still going to have Light Levels attached to it now, and so are weapons. Not a lot is known about it, but essentially it'll allow [i]everyone[/i] to get to "max level" on their own, but you won't be able to get the best [i]stats[/i] without Endgame gear. :)