I think you're dead wrong. Itemization has to come after all the features are finalized, and as far as we know, we aren't even there yet.
When they say they finished the Barbarian's top-tier armor set, we don't know if that means that they finished the ART and how it will look, or if they finished all the stats and behavior of the armor, or WHAT exactly they mean by that. The art is mostly independent from the gameplay characteristics, for this particular thing. I have the feeling it's just the art.
I think there's a LOT of gameplay balancing to come, because it seems that they haven't even come close to making all the feature design yet, as far as we know.