Honestly, I think doing this will make the jewel system completely useless. Right now, most people are sitting on excess gold (at least till sns becomes a reality), and bringing back these jewels will make them affordable to all. Don't get me wrong, that's a great thing, but then what was the point of the jewel system?

Instead, we could implement Ravagerx's idea of not allowing gems to be put into pvl 46 gear released after the change is made, including but not limited to the remaining 2 parts of the mythic set. Honestly, I have no clue why gems were even scaled to lvl 46 if they wanted to get rid of them...