In fact, transmogrification has only made the issue worse -- and it all has to do with quest rewards. See, once you complete a quest and get the reward for it, you can't get that reward back again if you delete it to make room for things. Unfortunately, a lot of the nicest sets out there are floating about in 1-to-60 zones as part of quest chains that you cannot redo if you happen to lose that quest item. So if you want to continue to use it for transmogrification, you have to keep it. Forever.
You see the inherent problem here?
Right now, my void storage is full to bursting with old set pieces and weapons that look really, really cool -- and my bank is in the same state. Rather than alleviate space issues, void storage simply gave me more space to throw these really cool set pieces and made it easier for me to go out and nab and store any new cool pieces I wanted. The problem here is that there is a finite number of spaces in which I can store all this soulbound stuff, and there is far more amazing gear out there than there is space to put it all.
But I'm not the only one bitten by the transmogrification bug. There are a ton of blogs out there that have popped up on the subject. There's WoW! Fashion! and the unrelated WoW Fashion, both of which feature all kinds of original and outstanding sets. World of Wardrobes is an amazing resource site that has a list of armor models sortable by type and more importantly by color, complete with links to Wowhead so you can find all of that gear. Wowhead itself has its own transmogrification tool that lists all of the outstanding matched sets you can find in game. And then there's Go Mog Yourself, which features both author and user-submitted outfits and info on where to get the sets.
Obviously I'm not alone in my transmogging obsession -- and I seriously doubt I am alone in the dire need for more bank space. Blizzard gave us an amazing, innovative, and downright fun new toy with transmogrification, but unless we get more space, that tool is going to become way more of an annoyance than the super-fun toy that it is right now. I'm seriously hoping it adds more void storage slots or tabs in the near future; otherwise, Mists is going to be a painful bout of trying to decide what exactly I can part with in my bank -- something that I thought void storage was supposed to fix.
Patch 4.3 lets you transmogrify your gear to look like any other gear your class can wear -- but you have to collect it first. Check out our coverage of transmogrification and start running those old dungeons!