How will bungie make it fair for those people who sweat and bled for legendary and exotic gear vs those who have rare or uncommon gear. It just didn't feel right for me when we could take our gear from the story to pvp and not have any limitations to it. A gun like red death with kick ass in pvp. With the right armor pieces, you could be a fookin legend in pvp.
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Bungie has indicated indicate that all weapons and equipment will be fairly level/balanced for PVP. The high end stuff might offer a slight advantage but I would think if you are decent with PVP, you won't know the different playing against someone who had. There is another thread in the forums where someone explains what Bungie will like do to weapons to put all on more equal footing.