Basically, its a new game that is free 2 play, but will offer premium payment options. It somehow ties into the subscription based Everquest 2.
This takes me to my pet peeve with free 2 play games: they are too fucking hard to understand. A chief example is Dungeons and Dragons Online. I spent more time trying to figure out what I could or could not achieve without paying instead of just playing the game. Everquest II is sounding about the same and players are likely to be confused, especially when they try to wrap their head around how it ties into the subscription game (now known as Everquest II Live).
I like the idea and the direction SOE is taking this whole free 2 play thing, but I'm not sure tacking it onto all of their current franchises and games is the way to go. As always, SOE will be interesting to watch.
Scratch that, this is going to be a fucking riot. Just read their proposed plans for providing support to players:
The self help knowledge base will be accessible to all players regardless of their Extended membership status. As clearly outlined in the membership benefits matrix, customer service is only provided to players who have made a real money transaction in EQII Extended or at least have a Gold membership.