well does it really matter? who uses that gear for anything and do you never intend to job change or upgrade your gear?
it might block you until you unequip it (like trying to reset your retainer's class) but i find that unlikely.
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If you change nothing get reseted. Your progression in the old GC get saved and your progression in the new GC get loaded. If you change to the new GC the first time then yes, you start at the starting line.
the same what happen if you have job specific gear on (like AF) and you want to unequip your job crystal while one of your armory chest slots is full.
you cant change the company as long as you wear gear of your old company
you have to take everything off first
But if you're rank is 2nd Lt. In Adders, and switch companies, you still keep that rank, right?
If you switch GCs you lose access to your old GC's Seals, Equipment, and Rank. A 2ndLT Maelstrom will lose access to all PvP ranks, Storm Seals, Maelstrom Equipment/Barding, but still actually retain the rank and Storm Seals in a "hidden" section that you can't access unless you switch back to the Maelstrom.