I respect the OP for his well formed, and thought out Post. However, I don't think HNMs are going to bring back what you're really after. Emotions.
Think of it like this, You're remembering how much excitement you felt back when you got the Rare item you wanted, or what have you. In a sense, You're trying to recapture the excitement of that first victory, or the first rare item you got.
I remember the first piece of Sky gear i got, Hecatomb Feet, Loved them to death, Was so happy. Only later masked by Valor Surcoat, and Valor Cape.
But you have to remember, What you're doing is essentially trying to relive your best moments. its like when people try to play new MMOs, basically trying to recapture that feeling of awe they felt when they played their first MMO.
Its like your first real girlfriend/relationship. Sure other relationships are nice, but none will quite match that mystery, or excitement, of that first real intimate relationship.
Basically, what you're asking for won't bring you want you're seeking, Excitement or Emotion. Its really quite simple, Its like an Old man dreaming of his youth, You're wanting something you can't have.
Even if they brought back world spawn HNMs, It won't give you the excitement you felt back then. Nothing will. Its only natural :|.