Well the fears of losing hard earned items could be assuaged by the fact that one could, in the future, build replacements with the upcoming crafting system. If one could replace that vorpal/wp/etc (with enough of the right components) then it would become less of an issue. Question then becomes what will you be able to craft? Also, will the components used in the process be as random as current item drops? (then makes little difference)
...But that is sometime in the future...
>>> To the future! >>> [insert woosh sound] >>>>