b) the reason for upkeep was that the game is supposed to be playable for a long time. This is either done by resetting the database in set intervals, like a month or two, or by artificially keeping the equipment lower than max. We've decided to go with #2.
I'm wondering though... if the upkeep is designed so that players can only maintain a medium grade armor set, then why are there even blackplates and those expensive horses etc in the game? Only for players to drool uppon? Or do you expect people to play with peasant clothing 90% of the time so that on rare occasions they can equip there plate armor if they want too? (Which most likely leaves them crippled either 90% or 10% of the time as you need different stats in order to fare well with that specific equipment)
I understand that you're trying to create some sort of gold-sink, like most RPG's have, but only 1 gold sink that nobody can keep up with doesn't make sence, unless that which I stated above is your plan.
If say players could earn gold in different ways, perhaps trough trading or crafting stuff in strategus... then there would be certain players who could afford the expensive stuff. But you should ask yourself if that's fair towards the player base who only plays cRPG.
Imo the old system where you would gain gold very slowly was a more succesfull formula for a game like this. And I herby suggest you to revert that, or think thinks trough a little better perhaps.
Edit: I suggest the following;
Make it so that there's different roles for players to play on the battlefield. Like in a real battle, one big army of plated knights would be a tremendously slow mass of metal, and thus leaving it up to the enemy where and how they strike them. A army needs different sort of troops, light fast ones, medium armored ones, and ranged ones to force the enemy into a certain position or pressure them to attack etc.
Now to make it fun and more realistic, heavy armor and stuff does indeed have to cost more gold. Also, it'll have to be a skill intensive 'build' to be able to wear these kind of heavy suites and ride the most fiersome warhorses etc.
So you have to make sure that new players can take on a battlefield role that isn't as utterly useless as a peasant with a pitchfork, but not able to become a heavily armored knight on a plated charger fast either. (That must take a long time of training and a large sum of gold to afford the equipment).
Now older more experienced players shouldn't feel that they are forced into the 'heavily armored class' either, they can become infantry with a pike and take on a specific role to take on those proud knights at their expensive horses, and totally obliterate them if they want.
So maby you'll have to make plated armor be a bit more skill intensive and raise the level cap to be able to wear one of those again. (Not allot of players will play them I suppose as you will leave the retirement system in it's place so creating a new character and get a bonus+a heirloom will still be really attractive)
Anywho, if you would like some help with balancing this game out, don't hesitate to ask some help.
You're doing a great job so far though!
Zophos