I'm not expecting prices to drop to 10% of their value fast, they may drop to 20-30% fast but they will take some time to go down the extra. People will keep them as high as people will pay and a lot of people don't fully understand the devaluation so will be lured into paying a bit more. Additionally new players have no idea how much things were worth in V1. There's also the fact that the supply of everything will change due to the huge changes to gathering and crafting, and supply is one of the biggest factors in price. Demand being the other, something else that is sure to change massively during the transition.
I don't know why people are terrified that some people have 500mil (50mil in ARR), it's not like gil collectors are the ones spending large amounts of money. It's the players who are constantly broke that causes the gil to flow around because they are spending. Just like how too many savers is bad for real world economies.
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