As for WoW, looks like a poorly drawn cartoon, but I hear it plays better than EQ2.
I wouldn't say "poorly drawn", but it is very cartoonish. The art is based on the Warcraft games, which is cartoonish in nature, but I still think it looks awesome. And the animations of players and NPC's alike are amazingly detailed. Even lions on the prarie will stop, stretch and yawn every now and then, then plop down on the ground and take a nap.
And the lower detail allows you to take part in huge battles without lag. I play on the PvP server, so I take part in many raids. I've been in raids with around 50 people on each side fighting it out in the same place with NO lag. I'd like to see the EQ2 engine do that.
I haven't played EQ2 yet, so I can't say that WoW is better, only from what I've heard. I did play EQ for about a year, and it wasn't even close to as good as WoW. In WoW you're ALWAYS doing a quest, you never go out and slaughter creatures just for the xp and ph4t l3wt. You always have a reason to be killing stuff, assassinating someone, finding an object, talking to an NPC, etc.