the statement given, kind of answers your question.
cosmetic stuff isn’t bind on equip… it’s labeled as “cosmetic”, and is “eaten” when equipped.
so in that case, yes, armor class will matter.
(edit, forgot to add…)
This is amazing news, but I will never be completely satisfied until I can hide my pants. Stop resisting me Blizzard. I need to hide my pants! 
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The question, did anyone live off trash items and keep some of this type of armor in your bag?
because in old wows remove items, the trash value GOLD…
So twill will suddenly sell for 300+g on the ah, awesome. Twill raiders forever 
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Finally!
Waits for first “Grey items are BoP. Now I can’t mail them to friends!” thread.
I second this. All grey and white items should be cosmetic from now on and not bound by armor type.
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I certainly hope you are wrong in this case. All of the good grey/white items are cloth. As a leather wearer, that would be a terrible shame to not be able to mog a qipao as anything other than a mage, priest, or warlock.
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I hope I can filter them out as to not clutter up the dressing hall. I am having a hard time thinking of any white or grey pieces that I would ever want to show off.
so… don’t add them to your collection?
(edit) wait a minute.
let me slap myself.
i don’t know what i was thinking.
Ohhh, there’s a lot! Not so much for mail gear, but a lot of nice looking stuff for cloth and some decent stuff for leather. Plate, however, looks generally awful.
That is known as an unhelpful post to see yourself post post. Do you know about the feature that lets you look up unobtained mogs? I am simply hoping they add a quality filter to the existing filter.
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Ooo excited! I’ve been waiting to transmog my Formal Dangui forever.
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No, it’s known as “i replied to a really vague post post”.
yes… but you didn’t say anything about that.
my brain assumed you meant that you don’t want to have to flip through the owned appearances.
i’m sure someone will make an addon to filter them out if it’s something which will upset people.
i think there are some quite nice lesser quality items… been hanging out for this for TOO LONG!!
(gonna go start farming now, i needed something chill to do for the evening!) 
…gonna start filling up a guild bank. yisssssssssssss