Looks, definitely. Functionality (runes aside) hardly bothers me at all.
Monk -- The one thing that stopped me for getting energy bonuses on all my monk's armour was that
she'd be running around practically naked. In the
Shiverpeaks. As it was, I only got the arm tatts, then 1.5k censor's shirt and pants, which I dyed a goldish hue. I got her the 15k sandals that have vine-like tattoo designs going up the leg, because 1) Liked the tattoo 2) Didn't want to run around barefoot. Until Factions. Got 15k Luxons, with the exception of the sandals.
Mesmer -- fell in love with 15k Rogue as soon as I saw it. Of course, I'm also in love with two of the other 15k sets (Prophecies)... so one day... And Fissure... perhaps. :x If I EVER amass that many ectos. I'm not a farmer.
Ranger -- Unimpressed with all the 15k armour. 1.5k druids is, IMO, more appealing than the 15k druids (again... half naked...). She has a mixture of 1.5k Canthan stuff from Kaineng, but I do like the Tyrian collector's armour, which I'll have to get one day. I also like the Fissure Ranger armour, but it's doubtful I'll ever get it.
Elementalist -- I pretty much detest all the (female) ele armour. Cynn probably has the only set I like, and it's naturally not for sale. Mine currently has 1.5k Geomancer stuff. Only reason I bought armour at all is because I think I dislike the collector stuff the most.
Ritualist -- I like quite a bit of the cheap Ritualist stuff, and would be satisfied with it, but I also really like some of the expensive ones. The problem with Ritualist armour is that it's hard to mix certain armours. I tried to combine 15k Canthan, Imperial and Kurzick and... well, I'll be spending some more money to fine tune *that* wardrobe.

I won't be touching the Exotic fashion line with a ten-foot pole, however.
Assassin -- I spent a good chunk of time the other day trying to decide what armour to get now she's in Kaineng. None of them really stand out as armour I *like*, though there are styles I have definitely decided against. She'll never have 15k armour. Don't like any of them enough to dish out for it.
It's nice that I've played GW for long enough now, and gotten a couple of *really* nice drops (which I sold) that I have a sizable enough bank account to feel fine about splurging a little on armour. In real life, I hate clothes shopping. In GW, I like to look good. ;D