A few pages back I could not decide whether I like this or not. I have made up my mind now. I do not like this system for a few reasons.
While this kind of system is preferred by most MMOs you should also notice that the most MMOs go Free to Play these days. Sure it isn't just because they have item binding but I guess it's the little things that restrict the player and therefore the gaming experience once they add up. I've played TERA the last few days, it was generally fun for a short time but one thing made me wonder.. "why are there so many ex items?". Now I've played TERA since the 3rd and thought that this was just their weird way. Then on the 9th this thread popped and I tried to argue with myself that this can be a good system. I couldn't win that argument though. It annoyed the hell out of me in TERA.
I remembered when playing XIV 1.0 that I wasn't able to sell and trade used gear. I could live with the fact that I couldn't sell damaged gear but no trading seemed awkward to me and annoyed me a little. Now you're talking about taking away that aspect of social interaction completely. Wouldn't it be better to come up with a more original idea letting gear disappear?
The materia system was a good way to kill off gear, especially when the item only costs like 10.000 Gil and you're getting a Grade IV materia. I'd take that gamble at any time. If you think that is not enough you should come up with another idea.
Many have mentioned trading in the gear for GC points for example. Also many people seem to like the "dismantle item" feature.
I respect your opinions for "pro item binding", everyone but I have a feeling that this will not be a feature but a restriction to my gameplay experience, and I know many feel that way as well. I didn't want to post until I tested it in the Beta but I think TERA and FFXIV 1.0 (gear dmg -> no trading) helped me to decide on this matter.