I think those are great news. The entire loom point hunt, the endless grind and the great disparity between old and new players concerning the amount of their loom points made such a decision unevitable. Resetting or even removing heirloom points would finally be the right step to move cRPG into the right direction, where no-lifers don't have massive advantages over casual players, who, after all, represent the majority of all players.
The only thing left to do would be creating another incentive to retire your character and keep the average level lower than almost on the maximum level. I would recommend implementing items with special looks, instead of superior stats. That way you would still have the rather high motivation of retiring and making your character easily distinguishable, on the other hand we wouldn't have those effectivity imbalances between old and new characters.
A little bit optical candy is always nice. Allowing players to dress like Han Solo, Chewbacca or C3PO, completely with laser swords and laser crossbows would be awesome. Perhaps some Wehrmacht or even Waffen-SS uniforms? We also definitely need Cowboys, Indians, Ninjas, Pirates (oh God, please, give me a Jack Sparrow outfit, completely with black eyeliner around my eyes!) and Power Rangers. Woops, we already have Ninjas. But did you notice how they don't stand out of that list? It's the indicator that cRPG is going into the right direction.
My personal favourite would be a Julia Roberts outfit. If I could swallow players with her giant mouth, chew them and spit them out again I would instantly jerk onto my keyboard. I also love her hair.
