VERY BAD IDEA.
All of the people with level 31 characters will build perfect builds. It would be completely unfair. The only character i was playing was a thrower who was like 26-28, the highest level i had ever achieved in this game. That character was totally ruined and is unplayable thanks to the patch. And i still believe that a respec would be a horrible idea. Not that it matters, chadz has always been against respecs for exactly that reason, and so it won't happen.
I would much rather a full database reset than a respec.