I was told to move this to Suggestions, but there wasn't much of a reason proposed there so this is a new post with my reason, or reasons! (If I think of more)
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Well, I'm not saying that it is a permanent nicknaming of the gear, but more of every individual gets the choice of giving nicknames to their gear. For example, the ORIGINAL name should remain somewhere near the nicknamed weapon in parentheses, or something along those lines.
It was be pretty handy if we could rename them for organization purposes, for say.
I know my Guildmates would love to rename their AP as Bird-Caller, Bird-Summoner, Birds-The-Word, ect.
Changing the name like the Battle Sprites would be nice, because paying thousands of E, would be quite... painful. *doesn't have thousands of E*
I believe it would be pretty awesome. :)

Have a wonderful day!