One way to take care of the "gear gap" issue is to do what they did in GW2 and make zones force levels on individuals. Whatever level of gear drops in a zone is the max level that gear can be FOR THAT ZONE.
Zones 50 and above would be for actual GS but lower levelled zones would have a debuff percentage applied. It would still give the whales an advantage, but it would come closer to bringing everything inline to give newer players a better chance at engaging in all aspects of the game.
It would detract in no way from players who have the Mondo GS thing going on, other than preventing free farming lowbies. For events, they can establish a GS radius for rifts/etc much like they did for the demon dog, Kirby.
Free farming would still exist in level 50 zones, but it would give newer and returning players a chance to at least have the proverbial snowball's chance in hell. It would also allow them to develop their pvp skills on a more even playing field and get their armor up.
Just a thought.