Very nice write-up. After getting the 'ok' from Dash, it has also been posted up on GamerGod: http://www.gamergod.com/article_display.cfm?article_id=74
Thank you Dash!
In response to your question in the article about Soulbound items: When you equip a Soulbound item, the special effects are locked on to you. If you remove the item and give it to a friend or sell it, the special effects will not be there. So, be sure its an item you will use before trying it on