It's the same game just different time periods is all. It is a more hard core experience compared to today's version of MMO's, but Live just took out some of the old school headaches. Here's the long and the short of it. If you want access to all the full content EverQuest has then I'd recommend live. Reason being is you can pretty much grind a toon there to level 85 before really needing to subscribe. Visually and quality of life aspects they have made a lot of improvements to the game over the years.
Now that having been said. Project 1999 is as everyone said what the game was during that time period. It's a very close replication of the time when the first three expansions came out. Everybody has their own reasons for playing P99. Personally I think and feel like a lot of people at the time there is just more emphasis on your classes being useful in the game.
As a starting player unless this has changed because I haven't been on live in a bit I found I had an easier time finding groups in a starting location on P99 then I did on live. Now live does have mercenaries if your a solo player, but I never used them so I don't know how that even works. My main class I play is a druid and I've never had a problem soloing in any time period of this game.
In short if your ok with the game ending off on the third expansion then P99 is definitely the hardcore experience for you. If you want to play threw the game for the content then I'd check out live.
I usually play both depending on the mood I am in and what it is I want to see in the game. For the most part lately I have just been sticking to playing P99. If you don't want to play both then I would recommend first trying out P99 and see what the game was originally like. Then you will have a better understanding of what a lot of players are talking about in terms of game play. If you don't mind grinding a new toon then you can always check out live later if you want to see the differences and changes and experience the new content.
I recently introduced someone to this project as their first EverQuest experience so they could see as I put it how we brought the pain back in the day. lol There is no hand holding in this version of the game at all what so ever. lol So if hardcore is what your looking for then you have come to the right place my friend. Good journey and good luck in your travels mate.
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