I think it needs to be a difference between hardcore and casual players, why does the casual player that only plays 1-2 hrs a day or less should be able to get the same gear/weapon as the guy that loves the game and has nothing else to do than play...
I dnt think Im expressing my self right but, FFXI was really good at telling the community, "Hey this guy plays the game all day and deserves to have a better gear then you have"
For the FFXI community, we all know how hard was to get Ultimas or Omegas gear or Defeat AV (almost impossible), and not even mentioning getting the relic weapons...
That makes the guy who owns the gear/weapon proud of the time expended... and the community at the same time to look at this character with respect and say "Shit look at him, /wave or /bow".
I remember in wow playing about 1-2 hrs a day I had top gear... PVP and PVE... in about 3 months or so...
I also really like the fact of having HNMS to be share with the whole world... "World HNMs" (example: Vtra, fafnir( dropping the valuable ridill)) with a 3day window, 24hr window... that makes the gear/weapon dropped by that HNM more valuable then a boss on a close Dungeon...