I think it's good to keep itemization simple and for that reason I'm glad they decided against progressive itemization. However, it does make more than a few items unreasonably good unreasonably early. I worry that MC will be too easy compared to its difficulty level in 2005 or even 2006.
From a PvP perspective, only Warlocks and Mages have a very "complete" feel to them imo.
Warriors feel like they are missing something; they have very exploitable weaknesses. In TBC, these weaknesses are somewhat mitigated by Spell Reflection, Second Wind, and Imp Intercept + Deathwish being moved to Arms.