The reason given for the upcoming nerfs is that while effects will automatically scale down on lower quality gear, given how easy it is to acquire these items they did not scale down enough resulting in a huge imbalance as these effects were intended for Legendary quality gear and not Treasured. O'rly? The stats on the items will remain the same, but the effects power will subside by at least 1/3 in some cases. Swinging the ole' nerf bat on items doesn't end there as the four rewards from the Anaphylaxis quest will be nerfed from Fabled to Legendary quality.
Don't you love the pleasantries like "hotfix" and "tune" that MMOG developers like to use today? I call it like I see it. Nerfs stink even when they are an evil necessary, but the devs blundered this one to the Ruins of Kunark and back. This should have never happened, but it did, and even the non-loot whores get to pay for it. What about all those players that replaced all their old gear with? This nerf is going to affect a lot of players.