What on earth does a new progression system have to do with giving away free loot? I do believe that's the most absurd attempt at a rebuttal I've seen on here.
How is it a ridiculously exaggerated statement anyway? There's a good chance that they'll introduce some form of alternative advancement system at some point (FFXI had one, most MMOs get one) and it may well be character-based and not job-based (see Rift). If this were to happen the OP would be screwed as he'd then have to do double the work in progressing each alt.
My point was the current situation may change and if it does he will have wasted his time. Given that possibility does he want to take the risk or settle for what he can get on one character (which is more than enough for all game content)?
I'm sorry if you were offended by my use of logic and reasoning.