I have played EQ for years, and as soon as COH comes out at the end of the month, without a DOUBT I will be cancelling EQ and playing city of heros. I dont care about how much I have invested into EQ, the level of character custimization in COH is unbelievable.
If you want to see some of the near limitless things you can do to a character, look
http://fohguild.org/forums/showthread.php?threadid=11322 at some of the screenshots. The language of some of the posters is rough but man, its amazing.
Heres a small sample of what people have done:
seriously people, play this game