Odd, I swear I posted to this thread...
Anyway, it will be a great way to reboot the game for everyone. The closer will happen in preparation for "Loot 2.0" which will have "smart drops" where items will cater to the class that you are playing at the time. And since the expansion will raise the level cap to 70, a whole new set of level 70 items will drop so all the current best in slot gear will become obsolete!
Can't wait.
-420