"All of the "raid" gear will be getting nerfed. I'll let one of the items guys explain in more detail. All I can tell you is that the gear will be very good group gear. It will not be raid-equivalent gear. This will be a change to the existing gear, so the items you already have will change." - Alan "Absor" VanCouvering, Assistant Lead Designer - EverQuest
In addition to nerfing the raid gear, some other changes will be made. Read the entire post by Absor here.
UPDATE: It has been announced how the gear will be nerfed, although the details of what the new gear will be like awaits the next patch due October 7. Until then, all raid gear has been removed from Old Man McKenzie and raids will no longer drop items. Instead of items, raids will drop "Brew tokens", which can be converted into Brew.
· Current "raid" items would be "zeroed out", reducing all stats on them to 0, all augment slots will be removed, and the items will be renamed. This will pop out all augments on the items, returning them safely to players at no cost. Please be aware that the augments will appear on your curser when you log in after the update. Don't zone until you place them into your inventory.
· The "zeroed out" items can be handed to Old Man McKenzie for their full original value in Brew Points. We also plan to offer an additional item from a list of "free" items for those turning in these old items. Exactly what those will be is not certain yet, but may include Golden Casino Tickets and an illusion items.
· Then we will recreate the original raid items and put them back on the vendor.
· Requirements will be added in order to obtain the raids, to enter the raid zones and to loot any items off the raid chest. That same requirement will be added to purchase the raid gear from the vendor. The requirement will be that the player has completed all Crystallos raid events. The gear will be very useful for guilds that have completed Crystallos but have been unable to move forward from there.
Read the entire (complex) post by Absor here.