It's confirmed. Look at the picture of Xurs inventory in the latest news article. You can upgrade one helmet and chest for each class, and a few weapons every week. We have to wait and hope he has the weapon in his list that we want to upgrade.
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The armor just might be 2 random pieces from each class as there are 3 options available for old exotic armor(head, arms, chest)
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Yeah. I forgot about the gauntlets as there are only 3. It's definitely 2 random pieces of gear for each class.
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Confirmed where?
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Is in a gameinformer article but you can also go to news here on bungie.net and check the latest update. Scroll down to the picture of Xur. Click the image and see for yourself.