To at least help address the gear disparity for new level 40's and improve their playing experience, what about a new type of bolstering that takes into account how long you have been level 40? It would boslter you and gradually diminish as you are 40 over time, with the supposition that you are gearing up during that time and narrowing the gap between you and more seasoned players.
Just a thought, because I can tell you as a new player to the server -- when I hit 40 on each of my characters, the game experience really plummets at that point. You feel like you're wearing paper and swinging a wet noodle when you ding 40
