I think a Reincarnation-like system could be generated to give items stackable benefits when your character TR's.
It could be a ritual like device, similar to GS, and you drop some ingredients made, the item to be turned legendary, hit the button, and it 'bakes' some abilities into it.
The abilities could be a lit strike chance that increases for each life you have.
Or a lit strike that does less damage as you are low level, and more damage as you level up.
I think it would be pretty sweet if you could build up gear over lives.