The iron banner gear is raid quality. The armor is light 36 and the special and heavy IB guns are better than most legendary guns. The primary weapons don't have anything that special to them, the raid primary's have an element dmg added to them and IB does not. I have legendary guns I would rather use than the IB that I worked harder to get. The IB primary should have an element dmg added and I was wondering if you are already looking at this?
Edit: the other thing is IB should have an exotic weapon that can drop past rank 5. It has everything that the raids have aside from the primary not being on par and its own exotic.
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I don't think they'll do that IB is designed to give you the best gear for PVP play where elemental dmg means nothing Raid gives you the best PVE weapons where dmg type does matter