In World of Warcraft, there are clear PVP seasons with a limit amount of gear which is available to everyone. The itemization in D3 is way different and I don't think you can have PVP in the same way.
There's always going to be ppl complaining about the unfairness in PVP due to some ppl gearing using RMAH or having way more time to play the game than you. Doing this adjustment will make it much easier for blizz to balance PVP and make it more about the talents of the player than a gear-check.
It might also be some complaining about this system since the players that has spend a lot of time getting the gear would feel it was in vain but maybe that's just something they'd have to get over: Diablo 3 PVP is not about gear, but skill.
Do I think ppl spending a lot of time in the game should be punished? No, I don't. I think Blizz could add some PVP rating that shows how good you are. Could also have a win:loss ratio showing. Another possibility is to earn credits when you pvp and with these credits, you could unlock PVP runes and before each fight you may activate 3 of them. suggestions of runes:
- 15% reduced time of snare effects
- 1% extra crit chance
- 3% more armor
- Aura with 1% chance on hit taken to reflect 15% of the damage done over next 1,5 seconds
- Aura with 1% chance on hit taken to replenish 5% of player's health over 5 seconds.