Apologies for the necropost, but I've heard that if I add something genuinely meaningful to the conversation, it's acceptable.
Today I faced the exact same problem, and as a test I had a friend of mine on a multiplayer server try on the armor. According to WayofTime's post you might expect that it would kill the person who has the armor bound to them, or something unexpected. But rather the results are that the wearer dies instantly, the item is repaired and the Soul Network is left completely untouched! For people wanting a non-cheating method then this is a way to go about it. If you're in Singleplayer, I'm not sure how you would circumvent the issue... Though I just tested in Singleplayer and it seems a single death was able to revert the damage. Strange mechanics... but in any case, hopefully this provides enough information to provoke some testing of your own.