Don't think so.

It is a total of the item levels of all your gear.

I think the slot for the gear has something to do with the gear score.
As in an iLV 200 Breastplate will get you a higher gear score, then say an iLV 200 Bracer.

But, at 75th or 80th, you end up with the same score from the same item level piece that has not been upgraded.