Zurra makes some very valid points but many of them are a matter of opinion. Things such as art direction and the like. After seeing EQ2 in action I can say that the graphics are very good and the spell effects (particles) look amazing as well, for a MMORPG. As far as artistic/creative direction goes I think WoW has EQ2 beat. EQ2 just has that generic-ish design that doesn't appeal to me. I didn't get a chance to sit down with the game so gameplay mechanics and the like, I can't offer anything on.
One thing he/she failed to mention though is PvP! This is the biggest selling point for me and the reason why I'll be picking up WoW tomorrow now that, hopefully, most of the server issues have been addressed. I like the hardcore style of play and I had an absolute blast playing racial PvP on the open beta for WoW. I really think Sony should've taken the time to include at least some form of basic PvP instead of devolving into purely PvE type gameplay. If EQII had PvP, then my choice probably would've been leaning more towards EQII, as I played the original for 4 years before getting sick of it.