Just watched a video from IGN about everything they know about Destiny and the way they talked it made it sound like the classes had class-specific gear and you were forced into looking like your class, so bounty hunters have the hoods/cloaks, Titans all look like they are wearing space armor (like Spartans), Warlocks look like they are wearing trenchcoats, etc.
Please tell me this isn't true, that your character can look how you want regardless of class, I really like the hood/cloak look ever since seeing the first trailer and don't want to be forced into playing a bounty hunter when I really want to play a warlock just to be able to look how I want.
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Personalized loot streams, my man. This means that, if you spend 30 minutes soloing a Boss, no punkass will be swooping in to steal your loot. It also means that, if you play a Titan, you will get Titan armor. Now for weapons, on the other hand, the field is WIDE open across all classes.