I've read pretty much all there is to read about this game and basically I'm still at a loss for answers.

1) Is there partial or full looting in PVP? It cost money to engage in PVP I want a return on my investment.

2) If theres no looting is there a point? I dont me a rep system either I hardly think anyone will care if I'm a Lord or just Exalted I know I wont care, and just knowing the battle was won is hardly inspirational.

3) Will there be servers with looting? I have seen that there are pvp servers with different rule-sets, but no real elaboration as to what those rules might be.

All of the rule sets are still being put together. Nobody other then Sigil and maybe some beta testers at this point really know the answers to this.

 But seeing as how I read the CEO and one of the head CS people there are big on PvP ideas. I think most people will find a server they can call home.

Me personally, I like Meridian 59's rules. Everyones name is white, if you attack someone your name turns orange, if you kill someone with a white name your name turns red.

 Penalties for haveing an orange name, nothing much, other then you can be attacked by anyone including those with white names, with no penalty to them.

 If an orange named person dies, their name goes back to white.

 If your name is red the person you killed <depending on their "karma"> has a chance of unleashing a reverant on you. Which is kind of an NPC ghost that will follow you around attacking you until you kill it., the higher the murdered person karma, that stronger the reverant is.

Ultima Online upped the ante on this adding the chance to add a bounty to your killers head upon your death.

In both games you could loot the corpses of your victim. In some games they have a looting system that I feel is adequate, being that your victim will only drop an item or two, and half their gold or something to that effect.

My self I prefer to hunt the random killers, so a way to identify them is nice, and them dropping loot for me, is even nicer. a bounty on their head, is even better.

 Imagine a level 15ish random PKer runs around killing newbies all day, he kills 20 people, each of those people puts a 10 gold bounty on the PKers head...boom you kill the PKer and get an extra 200 gold for it. Of course this has been abused in the past <UO> by people random killing millions of people getting the bounty really high, then having a guild mate kill them to collect the bounty. so someone needs a fix for that.

nothing is official but I'm fairly confident there will not be a server with full looting. the pvp will probably be similar to eq1 or eq2 (this is just a guess) if there is looting it will probably be limited since this is a item-centric game.

i think there can be a point to the pvp and it does not need to have full looting, if you have played eq1 or eq2's pvp and don't like it chances are you may not like vanguards pvp.

again this is just speculation because nothing is official but i do believe i read where a Dev said it will be similar to eq1 in the respect that there will be multiple rulesets, so who knows.

PVP is not going to be tested until beta 4.

Which would also imply that we'll get squat for any actual decisions about how the PVP rules for the first few PVP servers until they have actually tried them out to see if they work.

For now all we know is that there will be at least one PVP server on release, possibly more.  Beyond that they do plan on releasing a varity of different rule set servers in general, some PVP some not.  If it really takes off they will obviously release a lot of PVP servers, it really ends up being player preference and voting with their feet etc.

Oh...and well...we also know that Sigil programmed VG so that all character to character interactions can be handled completely seperate from character to NPC interactions.  Or as the devs put it, they can tweak and tune classes for PVP balance without touching how they function in PVE at all.

AKA they've always planned on having PVP from day one, it was never an after thought.