My question: I heard there are gear sets in game now. Organizing a LUA / Gearswap file seems daunting. Does it do the trick?
In-game gearsets do, of course, function, and are more capable and appealing than old-school macros. Pretty decent for pre-99 or something if you don't yet have many swaps.
Gearswap is still far superior in the long run, for a couple major reasons I'd say.
First, because it's automatic - however you want to input things, whether typing commands, picking things from the menu, making macros, binding keys...Gearswap will handle swapping sets around. Using sets means macros, and hitting multiple macros (or otherwise increasing inputs needed) most of the time.
You can get pretty extravagant with it, but even a very basic LUA vastly reduces the busywork involve in using a full array of gear.
Second, because it can swap gear faster than is otherwise possible. Both with regard to human response or latency, and what the client will actually tend to accept anyway. That mostly pertains to things like pre/mid swaps on spells or ranged attacks, so it's a bigger deal for some jobs than others.
That initial setup of a LUA can be a bit tedious, but it's well worth it.