EQ1 is most definately still alive and active. There are plenty of people playing, both old-timers and new blood. Guilds are active and recruiting, many characters in the low-to-mid levels. It's not going away for some time.
EQ2 I'd advise for people just starting out, like my girlfriend. She played with me for a little bit last year, then switched to EQ2 when that first started. Now she's level 70, in a high-end raiding guild, and just bought another high-end character to dual-box. It's picking up some ground now, since enough time ha passed for the game to develop some background and character...but I've invested six years in EQ1 so I'm not quick to switch any time soon!
Oh...and besides EQ1, my other "main games" are America's Army and Tiger Woods 2006.
Edited, Sat Apr 29 14:50:56 2006 by Debalic