Not 100 percent sure if this will happen but

I like the revamped version you posted Tyler. The nebulite pouch is a very nice touch that I am definitely in favor for (I'm constantly fusing nebulites left and right and have to stop and fuse in order to make room when opening boxes). The ranking up thing similar to timeless gear seems like a nice touch as well, though I don't think it'll get implemented. But maybe if you have to talk to Bo to upgrade it when it's ready, have him give you a quest where you have to obtain materials, and depending on the rank up will determine how much of a material someone has to get (make these items quest only items as well so people don't take the lazy way out and just buy the items from FM or other players...just to give it more of a "work for your upgrade" feel).

I also think there should be an option to remove the nebulite from a piece of equipment without needing NX. Maybe make diffusers an NPC item where the nebulite gets destroyed, but if you want to remove the nebulite and preserve it, add a special diffuser in the CS for how much the current diffusers sell for (500 NX).

With that, I'm thinking stop the leveling up of the nebs at A rank, and then have the only way to obtain an S rank nebulite is to fuse a certain amount of A nebulites together (like 5 A nebulites) but have it be guaranteed that you'll get an S rank neb. I'm just spitballing other ideas that could work...feel free to tweak them or shoot them down if you want lol.