Its the risk you take. I only have 4 of 8 and an inconsequential experience bonus. Had I realized what would happen, I would have forgone my last 2 retirements and been almost 34 with 3 heirlooms instead.
Personally, I support a total reset of everything. Maybe give 1 heirloom to anyone above gen 1, but that's it. Start everyone over at lvl 1 on the same footing using the same system. Too many people lvl 34+ who never retired, yet mocked those who did that lost them and aren't even back at lvl 31, or others who as you say, have entire sets of weapons and armor heirloomed even after the 'take back'.