Since ZoS stated there will probably be no style and trait changing of items, I'd like to bring forth a simple idea.
Please give us a switch in the inventore which allows us to switch to another gear setup by the following icons.
Those are placeholders to explain in these thread.

If this icon is shown, the shown gear is working towards your stats and set bonus effects.

If this icon is shown, the shown gear is only visual.
Upon reentering the inventore it should always switch back to the working gear not on the visual gear to avoid confusion.
See some pictures to see what i mean

The real gear is a mix up of the Vicious Ophidian with some Abahs Watch and Redguard style.

The visual is (just for show) simple Iron Redguard Armor.