I would also be interested in hearing your thoughts, Blade.
Anyway, after reading all of the posts up until now, my thoughts are as follows: Legendaries ought to be super-freaking-rare and super-freaking-hard-to-get. If we decide to implement legends, I think we should make it so the person in question has to get a certain amount of gym badges - doing so nets them the ability to see legends in the Safari Zone. They catch one legend, and that's it - they can't get any more. And the capture rate on legends should be appropriate too; they should realistically only be able to be caught with Ultra Balls, unless the randomizer is really nice.