Racing is definitely more fun -- it's just not feasible. With variance, an enormous guild will emerge and absorb its way to domination until there's really no competition left. Size rules. We've seen that play out. Without variance, a mess in the endgame would inevitably lead to rotations between a handful of capable, mid-sized guilds.
The only solutions to allow racing and competition would be totally foreign to classic EQ and would change the game itself. PvP in raid areas is the best idea I've heard, but that's not classic blue EverQuest. It would be a different game. Allowing training might help create some competition, but then you have to deal with griefers that are just training endlessly for the sake of ruining an entire guild's day.
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