fixing old stuff will sure bring some life to the game.
properly balancing all those skills/spells/weapons that no one use will bring a fresh aspect to the game, a reason for older players to come back and try new things without putting much work in it.
what low lvs need are objectives in the short and medium run (quest,pvp,etc..) pvp can be achive by increasing the amount of snow wars and the quest could be kill the knight of ice dungeon and get a g4 rare.
other possibilities that come to mind:
dodgeball: bunch of players in the center of a square while a group of 4-5 priest cast rageball from the corners while the group inside try to avoid them the rules are quite simple: 1 hit and you are out, no invisibility and cant use anykind of boots.
resident evil

: participants in the middle of a square, gm will start spawning hordes of undead monsters first zombies, then skellys and so on till there is only 1 char left rules: cant resurrect, cant use sanctuary or stone armor.
bounty hunter: from the group of participants 1 is selected and a juicy bounty is placed on him, gm will give him 10 min advantage rules: he cant use portals or place himself in noncombat places, if he survives an hour he will get twice the bounty.
pushing it a bit more i think it would be interesting if rares crafting is splitted:
low lvs rares: sard is removed as a component to upgrade it, but the rare can only be used by chars lv 60 or below and can only be upgraded up to g4
normal rares: same as now they will require sards g2+, can only be used by chars lv 61+ with the usual cap.
this is more than anything to level the field and avoid dedicated low lv chars to turn the bigginers life into hell.