Ok so I'm returning, stopped playing after the fateful tsunami tragedy, looged in I used to be on rabenastre now I'm on Balmung, still a conjurer and I have more than a few items in my bag with a red X beside, not sure what to do.... so should I just scrap everything and start a new character?
Entirely up to you.
You could just continue playing, probably use some of your current gear except those that say "Required class XXX" or "Required level YY" that you dont fulfill as conjurer.
If you do use your old gear however you will be weak. If you get new items you will be much more powerful.
Also you probably want to make changes to equipped spells since a bunch of them are removed.
I was in a similar situation as you, and since I liked crafting I took the time to craft all new stuff and is having a blast in "new" FF XIV.