What I really want is for all pieces of armor to be valid to use on your character, by this I don't mean Warlocks should be able to wear Hunter armor or anything like that, but rather that regardless of your level when you get the armor, or regardless of the level of the armor itself if you like the look of it, it should be viable to wear.
Lots of MMOs have the problem where during early levels you pick up all this gear, some of which looks really awesome, that you just end up never using later on because the armor stats are more important than the aesthetics.
Guild Wars 2 has a good way to overcome this in transmutation stones which take the look of one piece of armor and apply it to the stats of another piece of armor.
Another way to do this potentially would be to have armor upgrades occur outside of the armor itself, for example an upgrade named "finer weave" could improve the density and defense of cloth armor pieces.
tl;dr - I want to be able to use the armor that I think looks good. Regardless of stats.
Edit: Having a room where all your gold and wealth piles up would be freakin sweat. - just as a side note