Agreed... heirlooms arent that important anymore (Armor heirlooms are actually the best atm imo)
I have earned a shitload of heirlooms from trading, but that is mostly just for the style
Now to get back on topic;
I don't think this is a good idea as a reset won't make new players kill veterans, since this game is all about skill (which is why i play it), and not about items and lvls.
Anyone can get to lvl 27-30 which is all that is needed to do well, the heirlooms are just a small bonus for people wo invest a lot of time in this game, and if that bonus is removed, some people might see their time as 'wasted'.
I don't really know how i would react to a reset, but i can imagine that i wouldn't play alot anymore, i would probably only play when there's 10+ clanmates in one server, as that is the most fun part of this game.