Here is what you can do docs. Use Techguy's guide to create your own server. This guide can be found in the wiki I believe. Once you have your server up and running just log onto it and make a toon. After your toon is made just summon the gear you have from live and what current level you were at and viola you have your old live character on your very own server.
*edit* Also you can look for one of Techguy's posts and just get the server set up guide off his sig link.