Yeah, I agree with the majority here, I don't see why balancing is a bad idea. There's nothing wrong with further polish so long as it doesn't destroy anything.
I get and don't get the item break thing. If they just removed the item break and that was it, I would think it would be too easy, but my guess is that they're going to replace it with something somewhat less painful, like instantly bringing it to zero or something, preventing further upgrades for a day, or something. You can make upgrading difficult without the stress of breaking stuff.
I might actually be one of the few people who likes the concept of level caps. DBOR, for those of you who don't know, is planning on starting with lvl 38 cap. I attempted to make a build for that cap, and was surprised at how difficult it was! Since you have fewer points to work with, you can't just get everything, you have to use your points sparingly, which I actually like. That's the point of level trees to begin with. I think 70 cap makes perfect sense, I honestly don't WANT to be able to buy every skill, that just seems OP to me.
That's all I got for now, pretty good thoughts so far!