You don't need 100 mil to compete.
Actually, if you are a PvP'r, the new faction system and artifacts that the Devs have implemented since your absense is a great equalizer and will get you several awesome suit pieces on the cheap. It's a quickstart system. And they are perfectly replace-able. If you loose them, just buy it back from your faction vault with silver.
In fact, they give even better stats than the doom versions. The only limitation is they can be repaired only 5 times, thereafter you have to buy new ones again. But think about it - replaceable stuff means you don't have to be afraid to loose them and do not need to farm doom for months on end.
What items do you need? Crimmy? Yup, there's a better factions version. Mace and shield? Yup, there's a better factions version. Orny? Yup, there's a better factions version. Crystalline Ring? Yup, there's a better factions version.
http://www.uoguide.com/Faction_Artifacts
You don't have to play for years now to get great stuff. As for runics, they've also changed the scale on how these work. Spined kits and DC hammers have a chance to give you 100% intensity properties. That'll cover up a couple of the pieces you are missing plus a semi decent weapon. Also, GM smithing and armslore gives a boost to resists and also free 40% DI to weapons.
Doom system has also been overhauled, there's now a point system like that in TOT. So no more having to do Doom for months and getting nothing to show for it. I average around 1 arty every alternate session, each session I do the gauntlet for about 2 hours.
Soulstones? It's a first year vet reward now.
Several arties from anti-virtue dungeons are very useful too. And costs at most 50k.
And there's the 9th anni heritage tokens (they gave these out to all chars, so you can buy them cheap, also around 50k) that allows you to choose any anniversary gifts from previous years - from blessed ancient samurai helms/leggings of ember to quiver of infinity/fountain of life.
And stealing sigils isn't the only way to get kill points. It's rather inefficient I'd say...
There's also the new champion replicas that gives you those uber event items like the lt sash.
A side effect of this is that more people are hunting champ spawns in fel too. So there's more PS around, with a dwindling market (hey, people only need to eat a 120 magery scroll once, unless they deleted a char by mistake). Increased supply in a smaller market = prices of PS will come down.
If you look at it, all these changes are geared towards making life easier for newcomers! It's not the grind you remember 2 years ago, seriously.
Just give it a try for a month and see for yourself.
Oh yeah:
Stop being so negative
Those will help out alot with obtaining passage of new areas of play and getting some top end gear and weapons. I can say after coming back to UO I was already burnt out on questing in other games, but here its not that bad..pull out the ole rune books, or find a library and fire up UOMAP.. I can tell you now don't waste yer time treasure hunting...the new "treasure" hunter is a player that sits and waits on houses to fall to the ground and collect those items...*shakes head* 
