Elias - I would highly recommend not quitting now (or at least not selling out) for multiple reasons
First off, Paul always releases updates in stages. He starts with the most radical changes that people are going to hate and then weeks or months later he'll add in the rest of the changes he has been planning since the beginning. I'd be willing to bet that when the next update comes out it will change things for the better
(I can hope)
In addition, it has been less than 24 hours since the update was released. After the muting update I hated it for weeks and couldn't bring myself to play but then eventually I came around and realized that it was for the greater good of the game. Granted, I gave up on seriously muting a while ago because it's a huge waste of time, but it was incredibly overpowered before. I feel like it's almost the same thing here. Some aspects of the game were overpowered compared to others so he boosted some aspects and nerfed others. I think that it's way too early to tell
And finally,
everybody is selling out right now. And I mean everybody. There are a lot of people who don't like this update, and some off those people are some of the top players. Many people in Cole's guild are selling out, and a few UA'ers as well. Pumpkin King also, and he owns some of the best gear in the game. Between all of them flooding the market with their gear right now I would be surprised if prices didn't plummet within the next week or two. If you were gonna sell out at all, before the update would have been the best time.
Now, I think that the most beneficial thing you can do is to sit back and wait. Hold onto your gear for a while and let the market even itself out again. In the meantime, take a little break from slashing and come back in a day or week or month and try to look at it differently, almost as a different game. For me, I've been very disconnected from LS for the past many months anyways so this update wasn't that hard for me to take, but I don't anticipate rushing out and slashing for days on end like I did with some of the other updates. This one will take more time to get used to but I feel like it actually has potential to be really awesome, once he has tweaked a few things in later updates.
Long story short: wait to sell your gear
it's not like you are in desperate need of fg right now so you wouldn't lose anything by waiting a while.
And also, if you wait then I might actually have fg to buy some of your items