The gunsmiths rank should increase the light level of the guns you purchase on arms day. If you are rank 6 then the guns he drops are 286 instead of 280. At rank 40 the guns are 320. The current light leveling system is a mess. You get stuck at a light level for weeks of you don't get a drop. This would provide a direct predictable route to leveling guns and provide an alternative for solo players or people who have trouble getting raiding groups together to level.
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A simple yet brilliant idea. You reward a player accordingly for their efforts (GASP!) ... while simultaneously creating an inherent and measurable value in even bothering with test weapons / Gunsmith Rank past a certain point. Let's see if we can't get this added to the "Wish List" ... so that Bungie can ignore it officially. :\ Again though - simple yet brilliant. Nice work.