[i]Are us 34s going to be bumped down to level 20 when TTK comes out?[/i]
My guess is: probably. I'm not sure if that excites me or disappoints me. On one hand, we'd get to re-experience the game as a low level. On the other hand, we wouldn't be able to set foot in any raids or nightfalls or PoE. Or even the TDB story.
But if we're talking about ways Bungie can reward players, how cool would it be if they just started everyone with the Laurea Prima emblem at level 34 xp? Or maybe just start your characters off with enough xp to be whatever level they've been left off at.
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I doubt it. Like you say, nobody would be able to do anything until they grind out 10+ levels. I can't see that happening. My guess is we will keep light level (34) until base level catches up to get past 34....