Wardrobe question.
If you have a certain look, if you have account bound stuff that you already own, at least for the PvE stuff, your’e going to keep that, You’re not going to lose your look, The transmutation is if you want to change the look after the fact.
Not sure how that would work on the PvP side of things, Presumably you already have all the stuff you’re wearing, so you just wear it and that’s your look.
You only need to transmute if you want to place a skin that you have unlocked over something else.
That is a good question. I am guessing it will be whatever you are wearing when you log in after the patch. And anything else, except costumes and things like HoM and Achievement skins, will cost a charge to wear.
But, who knows for sure?