This is an old, forgotten topic that I haven't seen mentioned recently.
I would love to see some function (other than farming rep) to high level class items, even if it is one simple node that gives a single perk.
The Vault of Glass class items could cause bonus damage to Praetorians, or Atheon, or Oracles, or increase relic holder's agility, there are countless untapped possibilities for them.
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Maybe a perk, or maybe a stat boost. Hell, maybe both. I'd love an exotic cloak for my hunter though :D