I think EQ2 is a decent enough game. The EoF expansion is actually a winner. The new race has an ability (glide) which is pretty cool. The starting zone and progression are well designed, although, convenience wise, they blew a few decisions.
The home city layout of Kelethin is in EQ2 what it was in EQ1--spread out and convoluted. The regular living areas in Qeynos are much more convenient than in the new Kelethin, although if you'd never played EQ2, you'd just think they are far mor convenient than in EQ1, lol.
There is a lot to do. I tried going back to EQ1 on the retro servers. I played maybe a month. I am not gonna twist again (bandolier is neat, but..) and I am not gonna rely on buffs to make the game tolerable. I happen to believe in the death penalty, but all in all, I'd much rather play EQ2 overall, although I think I could 'fix' EQ2 with a few tricks from EQ1.
That said, the Vanguard release date is set at January 29, 2007. While there are a lot of loyal EQ2 fans who say they will not leave, expect the same type of thing that happened to EQ1 when EQ2 came out. There will be a bit of a shakeout and probably some server mergers.
I have no idea what the WoW Expansion mid-month will do. There is a body of EQ 1&2 players that say they would play WoW if there was sufficient content.
I have been looking forward to Vanguard for a long time. In a way, I am dissapointed in its introduction now, that I am enjoying EQ2 as much as ever. (I had leveled a Dirge to 70, done and quit the raid thing and am in Feroce's PvP guild). I have very little interest in solo PvP, probably because my troubador is such a weak solo pvp toon. Part my fault and part the classes makeup. Nevertheless, going through the original content on a PvP server with this guild is fun. I only wish there were more member in the guild playing in my late night (9 p.m. till 1:00 a.m. cst).
At any rate, now is a great time to start EQ2 because of the large newbie player base in Faydwer. The EoF expansion that includeds the game as well for $39.95 is a pretty good deal.
In a couple of months when/if Vanguard begins hitting its stride? Thats anybodies guess, but I will be there (Vanguard that is) to try it.