I've never been a fan of lvl cap increases, it's basically a way for devs to reset the entire game instead of building on what's already there.

Played DAoC for 12 years and they never once raised the level cap, this resulted in literally hundreds of items for max lvl characters to sift through to try and create gear templates around one or two items they really liked. Every expansion I looked forward to trying to reoptimize my templates.

This oversimplification of stats, gear slots, and most of all item levels makes BiS pretty much cut in stone with no room for any kind of flexibility, you either have the gear or you don't and aren't optimal. Where as when you have hundreds of items all at the same lvl there is no true BiS, especially if you add skills or spells to those items.

Maybe I'm just too oldschool in my tastes for MMOs, but I'm actually dreading having to level up all my classes again, only to having two sets of highest tier gear to choose from.