Hmm...actually im kind of amused by the idea of this, but several things would have to be implemented. No offense, but i see it as kind of a shame that you can reach this games potentiel in 1 day. Technically, you can be the same as some guy with FoW armor and 5mil exp in 1 DAY!
One thing which would have to be changed, in my opinion, is farming, and only in terms of a difinitive monster spawn. As far as i know, this eliminates the bot problem

and not only that, it makes the "precious" exp much harder to obtain. UW and FoW can be preserved, because technically there is no repetitive spawn there, and it is very difficult to solo it anyway.
Basically, i oppose changing the lvl cap now, but i think it would be a good thing for guild wars if things were changed. I know ill probably get flamed for saying this, but most of the places i go i see many bored people doing nothing, and some arent even lvl 20 and still moping. I love GW, perhaps it is one of the best games i have ever played, but lets not be ignorant and try to ignore whats in front of our own eyes.