Armor in 1.0 was also considerably more dynamic. It was actually designed graphically to fit your body and what you had equipped. Gauntlets would bunch up sleeves and belts would have the same effect for certain body pieces I believe. That's partially why they removed belts for 2.0. Too much system memory was being dedicated to each and every different combination of armor on top of each one for each race/gender being different as well. It also gave them a bit more freedom to design things like the Acolyte and Foestriker armor sets.

Not saying I don't miss the old way armor was displayed (I particularly miss my Cobalt Plate Belt), but unfortunately I don't they're going to go back on this one.

We might get a body reshape but all things considered I kind of doubt it.