Character transmog in DBO?

For those who arent familiar with transmogrification (transmog for short) its the ability (although its not an action skill you go to a vendor) to transform your equipment so that it has the appearance of another piece of equipment. We do this a lot of times in WoW to make your gear look really cool instead of mismatch sets and things like that. Yea I know we have dogis but sometimes I just wana take my dogi off and show off some cool looking gear i randomly picked up. I know this cant be a reality any time soon but is there room/possibility for it? What do you guys think.