Okay.. So I, for one, have found myself, later down the road wishing I had not bound that one expensive costume piece, because I need the CE to buy a new weapon or armor etc. I think each account should be credited with up to 5 costume unbinds per month. The reason I say up to 5, is so that classic players don't just start unbinding all the old school costumes all willy-nilly and throw the economy off. It also makes it so that you get to erase 5 mistakes per month, in case you weren't thinking clearly when you first bound a costume piece. I also think it should cost around 2500 Ce to unbind a costume piece, because this makes it viable to unbind mid-range value costume pieces, rather than ONLY the high range ones.
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Sorry, I'm going to have to disagree. It's tough luck that you spent your money on visual candy instead on actual practical equipment. It's a lesson you can carry on to real life, too.
If you bind something on accident, you should contact the GMs within a reasonable time frame they can have it unbound for you. But otherwise no. You can't have your cake and eat it too.