They are not going to be useless, as level is XP based only, not dependant on the armor you are wearing. You could be a level 40 (new cap) while wearing all common gear, though it would be preferable to use legendary/exotic.
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I understand the Xp based system and I would agree with you but I don't think the older armour will be able to be a runner in any of the new system which I'm turn I do believe, from what was written, will possibly make it redundant. :(