Exactly what I had in mind. You of course keep your newfound Tyraels. Thus the term "retire". You just "downgrade" your chars to normal chars and start new ladder set. Also, everything is like normal ladder, MP, PvP, trade, but you simply have subset of your chars in the ladder bubble until it bursts and another restart happens. Then it does not matter whether you have access to 1.07 items, or five years more lk running, just few months in this patch as everyone else, and you would have this "from fresh" competition and that might be imho fun. And of course we have the rest in the "open SPF", but ladder mechanics (and maybe trist, but that not so much) is about the only thing what I miss compared to bnet.
But as I said, maybe its just me and there is no interest, thus this thread to find out. Specifically, I think this might appeal to people who tend to restart time to time, and we might create a group to do the synchro restarts together to bring more fun and competition to that (you know, all the firsts on the ladder, first mat/pat, first necro, first ladder sept, first to find windforce, cham, etc) and well, I have the kikbutsorzest windy on the ladder and stuff like that...