Yes. You have to pay to re-equip.
There is no unequip function.
additionally the equipment "falls off" if the creature dies, is exiled, returns to your hand, gains protection from (something) such as artifacts...
Well that's pretty retarded in some scenarios, they should definitely allow you to unequip it.
i suppose you could run card:Apostle's Blessing in any deck if you really needed to simply unequip...you could think of the 2 life you pay as the unequip cost.
It's intended to be a sort of a drawback, I think. Plus it would dramatically increase the amount of text on the card.
you can not just remove an equipment you need to attach it to something els and if there is nothing els then its stuck on that creature unless it gets protection from artifacts
and if the creature the equipment was attached to leave play for any reason the equipment just falls off ready to be equiped to the next creature unless a card says otherwise
magic humor. it's certainly a unique crowd that it pleases.