Chests are very needed. I have lots of just plain junk that I still want, but I do not want it cluttering up my inventory. So, Players should be able to craft a chest for item storage. There could also be Friend or Guild Chests, only accessible by Friends or Guild Members respectively. You could also get rid of that old default armor that you have been hauling around everywhere!
Friend/guild chests would even be more useless since gear is bound anyways. if anyone could grab and use for free, it'd allow trades without unbinding.