As someone who spend a ridiculous amount of time capping back out on FFXI, including on summoner (which no one ever wanted in their colibri or mamool parties), I would just like to say that I'd be happy to see exp loss instead of gear damage. I never once deleveled from 75 because it isn't hard to spend an hour once every week or two to go get your cap back.

The reason I DO want exp loss back? Because certain people can always be relied upon to delevel at events, and every time we would all laugh endlessly because so-and-so couldn't equip their gear. Or leveling up, there was endless entertainment from getting your level, and then party wiping ~right~ after. (Jungle anyone? XD) Sure, it was annoying, but I have some brilliant memories laughing with my friends because of it.

What do I get with gear damage? The joy of switching to my craft jobs and fixing it for you. *twirls fingers in mock excitement*