Okay, I played EQ for five years (still play during raids), never played FFXI, so my perspective may not match yours.
Here are the things I like and dislike about WoW and EQ2:
Tradeskills
Sony did some interesting stuff with tradeskills in EQ2. You have to pay attention to what's going on, and react accordingly to maximize your product. You can get hurt and even killed doing tradeskills, which cracks me up.
On the other hand, gathering materials for tradeskilling is just as annoying as it was in EQ. Well, hang on, nothing in life is that annoying - but you can see where the same ideas carried over. What you gather, et cetera, is just random - so you have a bank full of odds and ends and nothing you need to actually MAKE something unless you devote yourself to it full time.
Blizzard took a different path, and this is going to lead to another category. In WoW, your character can do a maximuum two trades (besides first aid and fishing, which everyone can do without restriction). So, if you want to make armor for your leather wearing character, you will probably want to go with skinning and leather working. At very low levels you can make reasonably good armor. At expert levels you can make armor that enhances key stats. This is all basically free; all you have to buy is thread, which is cheap.
Overall I like WoW's tradeskills more. Less cumbersome, better results.
Trading
Aside from auctioning randomly in whatever zone you're in, which you can do in either game, trading is pretty different between the two.
In EQ2 you can rent a room for a nominal fee, and fill it with stuff, including a market board. This gives you access to a market system much like the bazaar in EQ. While you don't have to be in the bazaar to trade, you do have to be in your room, which kinda sucks. Or, you can go to one of the NPC traders to buy, but not to sell.
In WoW, there is an auction house in each of the major cities. You can put something up for sale there, specify how much you want (or how little you'll take), and let people put in bids for it. It's like eBay in game. You don't have to be there to sell your goods; just put them on the block and walk away.
When your Hammer of Smashing sells to a bidder, they... mail... the money to you. This, to me, is the greatest thing since sliced bread: there's an in-game mail system that you can use to trade goods between your characters, or to receive money (or your unsold goods) from the auction house. It's brilliant.
So, my warlock, who's doing tailoring, needs some leather for belts and shoes. No problem. My rogue is doing leatherworking; she can mail it. No need for a second account, no dropping items and hoping they don't poof or get picked up. I love this system.
Grouping and soloing
Honestly, so far they're about the same. EQ2 is a bit more restrictive regarding group makeup, though not nearly as restrictive as EQ.
Most stuff can be done solo until the middle levels; grouping makes it more fun unless you get a bad group. I'm finding skill levels of other players to be adequate for the most part in both games. WoW is a bit less forgiving of mistakes, but much easier to recover from death and keep going.
Death
In WoW, death is just not much of an issue. You respawn as a ghost in a graveyard in the same zone as your corpse. You run back to your corpse and when you're within a given radius you get a ressurect box. You can choose where (within that radius) and when to rez, to be as far as possible from any bad guys and ready to run if necessary. You come back with about half your mana/hps.
Or, another player can rez you. Or, you can choose to use the spirit healer in the graveyard, who will rez you right there. However, that means taking a 25% hit on your gear (so you need to get it repaired), and having rez effects for a short time.
Item decay and mudflation
In WoW you won't actually "lose" an item, but they take damage, especially from deaths. It doesn't cost much to repair them, but it does continually drain some of the money out of the economy. I prefer this, personally.
In EQ2 your items get less and less useful to you and eventually need to be replaced. You can't use a sword/staff/bracer that's too far above or below your level (WoW has level restrictions on what you can use, as well). If you keep using it beyond its prime, it's just as though you had nothing equipped in that slot.
Both systems are reasonable. We'll see where the economies are in a year.
System requirements
Hands down, WoW wins. EQ2 requires a much higher end system to run. Even with the restriction of four characters per account (grr), they are somewhat less efficient in resource management on the back end. People complain about lag in WoW, of course, especially in the newbie zones; but I have had virtually no problem at all compared with what I had and sometimes still have in EQ. My lower end machine won't run EQ2 at all, but has no problem running WoW.
Patching
Okay the patch system for WoW sucks festering gonads. I am so, so grateful to Alla for using some bandwidth to mirror the patch; it's the only way I could get my lower machine to patch at all.
EQ2's patch system is much like EQ's - you log on, if there's a patch available it downloads automagically, and you just go on and play.
WoW's system is just... odd. You log on, get a patch message, choose to get the patch and assuming it's quick and painless (which it never is), you have to log back on a second time. Freaky. Also they use Bittorrent to upload/download the patch, so if you don't have the right ports open it's slow as hell. If you DO have the right ports open your machine is helping in the process, and it's irritating to see you're uploading faster than you're downloading.
PvP
Haven't done a whole lot of PvP in either game, well, a little in WoW and none in EQ2. In WoW if someone attacks your turf (the guards or NPCs in your territory, for example), they are flagged as PvP (this is on a PvE server). You can then attack them, and oddly enough even if they're way higher than you, hit them for at least a pitiful amount of damage. Last week about 30 of us level 10-15s took down a level 30something mage; most of us died but it was a lot of fun. And again, death is trivial so why not?
Overall I much prefer WoW. EQ2 lost my interest in about two weeks.
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