I think it would be cool to have an exotic Vangaurd class item that could be earned thru a quest like the factions have.
Come on Bungie, show the Vangaurd some love!
Edit: Several people suggested having an exotic crucible class item too. I like the sound of that also!
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How about more exotic class items in general not just faction. The legendary class item engrams say they can turn into exotics but not really. Would like to see exotic class items as random drops as well.