As the title states, I feel having armor set bonuses would make armor more important. As of right now once you get your armor set the way you like you have no need to ever grind armor again. Set bonuses would also help you refine your build other than maxing stats. Entire new playstyles could be opened up with something as simple as set bonuses. This game claims to be an MMO, embrace it.
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The iron banner armour kinda has a set bonus. But I like the idea of more.