I enjoy the post, I can tell a decent amount of time and creativity was required to make it.
I don't know if it is a particularly good idea, but I personally always thought it would be cool if your equipment gained levels or power right along you.
Blade of the Hunger
-special effect: A portion of demonic power is absorbed with each slaughtered group of elites. This demonic power also begins to dissipate each time the blade's owner goes cold.
Stubborn Armor of the Juggernaut
-special effect: Each attack endured further hardens the armor's metal. Attacks that inflict overkill have the adverse effect.
-special effect: The time between potions begins to shorten as each passing drink becomes a blur. Too long of breaks in between potions slows this gain.
So essentially pieces of equipment would require you to do different things to earn experience towards their own levels. Potentially the player could apply the bonus power to the piece of equipment in a manner of their choosing (ias/dmg/crit).Maybe level 1-10, and best yet you could add motivation to stay away from the AH. If you buy from AH it gets reset to level 1.