Well, we wont be able to [censored] customization, but we might be able to piss it, and is the texture thing true? (That is changes the whole item, and not just pattern and colour, or just one of those)
Revo had a picture illustrating how the textures could be changed on The Shield's helmet, maybe he will nice and post it again? D=
It was http://img833.imageshack.us/img833/2193/im26.jpg.
Anyway, I'm not sure how far the alteration goes. Definately the colour and pattern can change.
I imagine that a different pattern will also make the item look slightly different.
Based on that concept art, I also elaborated an idea that the different colours/patterns would possibly change the overall style of an item.