Generally transmogrification does not require ownership of the desired look. Also it's not just old gear but all the gear from white rarity and up. I know that some of my favorite looking gear is not legendary and therefore will never, without transmogrification, be wearable. We should just be able to go to Eva at lvl 40 and just pick from the available looks for each piece of gear. And our shaders should apply to all exotics.