Hell yeah! MMO Champion has done its usual data-mining magic and managed to unearth most of the latest Arena gear and whoa, does it look amazing. Boubouille notes that many of the sets are incomplete and that some Photoshop work was done for display purposes, but I think we get the general idea. Season 7 items are the latest iteration of evolutionary design, which builds visually upon older sets. This design evolution was hinted at in vanilla World of Warcraft, where the old Warlord / Field Marshal PvP sets were minor visual upgrades from the Champion / Lieutenant Commander sets. The Season 7 item sets should probably called Badass Gladiator because, well, personally I think they're just... badass.
While Blizzard promised the return of faction-specific sets in Patch 3.2, these will apply to PvE Tier 9, and from the looks of it won't be as phenomenal as it sounds considering classes sharing the same armor type will look nearly identical to one another. On the other hand, Season 7 gear, which also seems to introduce new weapon models, keep on improving without having to resort to dragon nipples or orbiting Thralls. It seems that Zarhym's promise of the Arena sets improving as the seasons continue is a solid one.