Ascending is the process in which to increase your Legendary or Exotic Attack/Light level.
Etheric Light for Legendary items and Exotic Shards for Exotic items.
Etheric Light comes from Nightfalls, Prison of Elders, Trials of Osiris, and Lord Saladin at Rank 3 & 5. It’s unknown how often this will drop, or in what quantity.
Yes, any Legendary or Exotic can be Ascended at any time, as long as you have Etheric Light (Legendary) or Exotic Shards (Exotic).
All armor, when fully Ascended (and upgraded if pre-HoW), will reach 42 Light.
Intellect/Discipline/Strength will increase by about 5-15 points. It’s unknown if Xur will also offer a way to increase these attributes even further, but currently Ascending is the only known way to increase them.
You can Ascend an item immediately, as long as you have the necessary materials. You can Ascend pre-HoW items (with the old nodes) immediately as well, but you’ll eventually need to fill in those nodes to take full advantage of Ascension.
Yes, any max weapon or armor, when Ascended, will reach the House of Wolves maximum.
Yes, you can equip a set of any Legendary armor and reach level 34. The armor must be Ascended to 42 Light though. Any armor, once fully Ascended (and upgraded – if it’s a pre-HoW item), will reach 42 Light.
4 Ascended pieces. 4*42 = 168 Light = level 34.
365 Attack & 42 Light is the HoW max. Any Ascended Legendary/Exotic can reach that maximum. This means new and old vendor armor/weapons, raid armor/weapons, or any other Legendary/Exotic can reach the House of Wolves maximum.
No, you’ll simply Ascend the item, and you’ll reach its maximum potential Attack/Defense.
The process of changing the perks on a Legendary weapon at the Gunsmith, simultaneously resetting any progression.
Legendary Tower weapons, introduced in the House of Wolves, can be Reforged. So any non-IB weapon that’s in your inventory right now can’t be Reforged.
This will be answered on May 6th.
Unless it’s an Iron Banner weapon, no.
Yes, you’ll need to Ascend it again and the perk experience will reset.