I don't think we'll see something like it anytime soon but I do hope eventually it'll be an option.
Infectionate Pawsthorne Bubblesbee[A] ↑ ↓ [H]
Nasturtium Fisticuffs Blesshu Sinnocence Ellipsis Hiddenfee Teddiursa
I think people think it's easier than it actually is... think of every race and piece of loot in the game. There already is a lot of clipping/weird scaling in a lot of races. Chests don't need to be bulky, that would make tabards a mess.
Though I definitely think boots/gloves and CAPES should have a higher level of detail/more models.
That would be a dream come true, but given the mechanical limitations I don't know how likely it would be. I'm so tired of the old silhouette, you have no idea.
To be honest, I kind of wish they'd overhaul some of the old vanilla gear. In some cases, the difference in quality compared with newer pieces is almost appalling. I know they'll never do it, but a girl can dream.
The Devil Wears Transmog
World of Warcraft Fashion for the Discerning Adventurer
I wish they first released good looking armor, then shapely armor. It'd be useless to have defined armor pieces if they are too hideous to show, which has been the trend with MoP sets.