It's true. I just started EQ2 (for real.. had it for a while but never really played) and it's an amazing game! Graphics are nice, gameplay is nice and there is too much stuff to do. I was surprised to see that Antonica on most of the servers had 50 to 80 players in the zone. Don't believe the people that are saying the old land is dead. Not true. I started on the old land to actually verify those claims. EQ2 is in excellent shape. Even the people on this site rate it no 1. And we all know what kind of people visit this site :)
I'm really enjoying it and i kinda feel bad for not starting playing earlier. Now that VG is on hiatus and that I'm not in any beta currently, i have time to devote to EQ2.
LOTRO? WoW? Forget those kids.... Give EQ2 a try.