While I do appreciate the effort, I don't really like most of the changes.
Upkeep System: If 20k was your projected "Average Joe" equipment, that may need to be looked into further. I'm not so sure "Joe" can afford his 20k worth of gear right now. Also, I think the entire system would be better if you aimed for a higher figure, like 40k. This would allow a decent "knight" build while disallowing mounted armored knight of doom builds.
New 2H thrust animation: TERRIBLE. It barely moves when you thrust. It's like a 3 centimeter thrust, really. Aweful. "LOLstab" was better.
Shields: I've heard the shield skill does not increase coverage any more AND all shields got a size nerf. Way to nerf the most underpowered class in crpg.
Archery: The cut damage for archers provides a welcome distinction between xbow and bow. The new animation is ugly and unnecessary. Simply eliminating the WPF bonus from retirements, adding the levelcap, and changing bow damage to cutting was enough. All further nerfs only serve to make archers suck rather than balanced.
XBOW: Haven't experimented enough; Will be testing further. Honestly, it looks OK IMO. The damage nerf is fine if no one can afford armor. On the other hand, if the "Salary Cap" is raised from 20k to 40k, the damage nerf to Xbows may make them not worth using much. We'll see.
On a lighter note, with every other class in CRPG nerfed, making a polearm d00d is as attractive as ever!