The first one was that companion gear will cease to matter to anything but their appearance; the companion's power will just scale with your level.
You mean I did all those Yavin 4 dailies for nothing? Nooo...!
You mean I shouldn't have vendored Lord Scourge's original (green) gear because I could have used it to make him look really cool again without gimping him? Nooo...!
You mean my gear spreadsheet will become largely redundant?
Thank god! As Werit points out, companion gear management is a fun little mini-game at first, but the effort involved quickly gets out of hand the moment you start rolling alts - thus also my need for a spreadsheet to keep track of which alt's companions needed what. I do think that being able to get rid of that will be quite a weight off my mind.
Screenshot of my gear spreadsheet ca. mid 2014 - you can tell by the item levels.
In fairness though, it also removes one of the few positives I saw in rolling all the main stats into a single mastery stat - the chance to hand gear down to your companions. Plus, I'll have even fewer uses for surplus commendations now... at least I could use them to gear companions so far. And crafting droid parts will be a thing of the past I guess, since there are no droid player characters and they've never affected apperance...? Still, on the whole I see this as a positive change.
I'm less pleased with the other major announcement, which is that all companions will be able to fill all the roles of the trinity. I've never found it to be a problem that not everyone could do everything (that's why we had so many after all, to be able to choose), and I liked that they had limitations - it felt "right". I prefer my NPCs to follow the same rules as player characters whenever possible, so it made sense that they could only ever fill two different roles, just like player characters. Their chosen roles also tended to reflect their personalities: Can you see Tharan "I'm a pacifist" Thedrax jumping in to tank things? Or timid little Mako? How is HK-51, who loves nothing more than disposing of "organic meatbags", going to heal people? Just the thought of that makes me cringe. We'll see how the actual implementation works out, but I'm not expecting to like it.