Ranks Beyond Level Cap

[MistakeNot]

What do we get for playing as a max level character?

Not much unless you enjoy the gear grind, but adding another grind on top of that sounds even more painful.
Nope, it is good that a level cap is a cap - that makes it so much easier for us more casual players to catch up without stressing.
A system like you propose would only reward the hard-core players who max out everything early - and they obviously like the game well enough not to require extra incitament to play.