With "The Taken King" hiding around the corner, I have to admit I'm slightly disappointed with Bungie at the moment. They are pulling the same stunt as they did in "The Dark Below".
 Where you have to re-level your old exotics from scratch, and that's if you even can! 
Everyone's favorite exotic the Gjallarhorn, and maybe most hated the Thorn, are being left behind at year one levels. 

To me at least, it's obvious...That there is such a critical lack of content in "The Taken King" Bungie feels the need to completely reset the grind, all to keep our feeble minds busy for six months.