If you have the game... you can play without buying another.... but if you don't have legacy status, you will have to pay a higher monthly rate and not get other perks (beta priority, more character slots, exclusive choco mount, etc).

Your first month of FFXIV ARR may be free... i'm not sure on that one though.

The thing is guys, if your not a legacy theres no way to become a legacy atm. You would had receive an e-mail stating that you have qualified to be legacy. If you've activated and un-activated your account, chances are you have not qualified. It HAS to be 90 days of PAID time PAST your free month. This means it must have been 3 months of active status since january 5th, 2012. If you have not gotten an e-mail by now and you have not had any paid time since january, I highly doubt you'd make it in time to qualify by the end of your 3 months. Someting like this

"The Legacy Campaign is a loyalty reward available to players who have been playing in V1 for at least 90 days. 

With V2, the fee structure will be changing and players who qualify for legacy status will be able to take advantage of a legacy player discount. The discounted prices will be the same as the current 30 day fee, while players without legacy status will have to pay the higher older fee for the same service level. 

The new structure has removed the extra character payment and instead given you up to 40 playable characters for your 30 day fee. Players who do not have legacy status will be able to gain a discount if they are happy with a maximum of just one character per world. The full V2 fee structure is as follows: 

- http://www.ffxivinfo.com/service.php

Just to add to the accurate information that has already been given in this thread, not all will have received an email if they're legacy.  There are some, including myself, who never got an email, but we had that "Legacy" symbol when you log in and had more than the purchased days required to further solidify it.

Still, it's highly likely that the vast majority got these emails, but if you're 100% positive you obtained the necessary 90 days paid, then there's a possibility you did.

In my situation I used the 90 day subscription plan back before it was discontinued and instantly got Legacy the next day I logged in.

You can check if you have Legacy Status by logging into your Square Enix Account.  Then under the Service and Options tab on the lower left, click Select Service which will change the main menu to a selection of either FFXI or FFXIV or both if you have an account for both.  

Click on Final Fantasy XIV obviously and if you have a Legacy account you'll see the Legacy symbol as depicted in the image below:

Just wanted to thank everyone that contributed to this thread.

Since hearing about "Legacy" when I went to the ARR beta sign up site, I have been confused about what the requirements were.  I searched the official forums, google, and never found solid details until just now.

Thanks!