that would be fine if there wasn't a limit on gear, but u have to reduce ur gear as u lvl after a point because of the ap cap. that means ur being penalized for every lvl up after u reach the ap limit. that seems VERY wrong. but that's one man's opinion.
EDIT: To me Attack Power should be just that Attack Power, no matter where it comes from, if ratios are needed fine. but those ratios should be done when assigning in game AP to each item/unit/hero where players can see it, not afterward where we have to just guess at it.