I'd vote for Class / Job Specific Equipment, and Rank Restricted Equipment as well.
It certainly would allow for something to work towards and strive for, as well as add some class / job distinctness (instead of having Monk, Warrior, Thief all wear the same armor, or, say, Bard, White Mage and Black Mage all wear the same armor - No Thanks).
I'm fine with having some General (Non-Class Specific Gear), for those that want some versatility (saving inventory space, etc.), but there's something special about seeing a classic Final Fantasy Black Mage, or a Dragoon, or a Dancer, etc.
Thanks.
