This is an excellent idea. I think the reason no one has risen to the task yet is because it may be a monumental undertaking. The first step is to look at every quest in the game and then determine which have items that are not limited to the quest itself. Something to think about. Any takers?
I think that this kind of gameplay will be hugely popular with Classic. We will want to try to work with you guys with finding a space to help keep track of this kind of thing. Get the hype going and we will be there with you.
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.