I like the idea of the 3 set item option. Maybe the way you would turn it into a set item is by using some type of recipe like a "crafting thing" where you have to have certain items to crunch with it to make it a set item. Also that once you created the set that anyone that could normally wear the items in the set could use this set. This would make it possible for you to trade or sell your own set.
These type of sets would be very rare as they would be one of a kind. Or maybe you could use a recipe to rename the set if you acquired it from someone else. Plus the recipes for these types of sets would take rare ingredients in the "crafting phase". If people liked these I see no reason you couldn't have a 4 or 5 piece set.
Maybe it would be runes you put in the "crafting crunch" that would add features you needed to make your unique set. Of course all of the added skills and things would have to be capped so you couldn't unbalance play. So for example you couldn't have like plus 4 to skills and things like this.
Maybe you build a set and then later can upgrade it like in D2 when you could increase a unique to a better item but it also had made level and strength requirement increase too.
Anyway just a thought and you have come up with a great idea
...if we can get the option to unname something would be a nice addition to this feature
agreed, but I think that to name an item, it would have to come from a rare, random quest that could appear in any stage. this way you wouldn't have as many floating around and you couldn't just rush to get it ('cause it's random) in order to name your "I<3beingan00b"-short sword.
and if you did happen to trade for a (welcometoyou're"doom")-breastplate, you could get rid of the name... although in that case, I don't know why you would.
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And we can tie these caterpillars together to make bow strings for bows and arrows.
There was even talk of french toast, but there was none to be had