It would be recalculated and capped at 9 right now. Unfortunately I've got some rebalancing to do with the addition of new content and the new quest system so it's a necessary evil to keep things on track.
In the future, it's likely that we will have soft level caps instead of hard caps (i.e. you would only get experience for completing quests/slaying monsters close to your level), but that is still up in the air. The new system made it very easy to level up and render all challenges irrelevant based on the testers feedback so it'll require some careful tuning.