Though you created the idea in sarcasm, I honestly think this would be a great idea.
I feel this is the reason that so many other games do it as well, so that everybody starts on the same level again.
W/e the new advantages/disadvantages are, players will have to find them again and by the time of the next patch, the OP'ed things would not have had too much of an effect on the community. Though, of course, heirloomed items would have to be respec'ed otherwise those who grinded would rage and that wouldn't be nice at all.
All in all, I feel you put the community first in every patch that you make (though at times, it could be the "wrong" community) and you deserve a nice pat on the back for your efforts.
I, as I bet the rest of the cRPG community as well, support your decisions and will continue to support you till the ends of time.