Well as stated, all gear and equipment will be created by the players themselves. So the rules out getting it as a drop, and I would go so far as to assume that rules out as a quest reward as well.

Perhaps they give special components to great weapons. Where you can't craft a higher-end weapon without getting the component from a specific quest, or buying it from someone who has done the quest.

And since these quests are randomly generated, its most probable that the rewards will be more in the lines of money and reputation than anything too special. But I'm sure there will be some. However it is probably the storyline and main quests that will be giving the more unique rewards.

If it turns out like the AO quest console quests, hopefully better, it still ought to be pretty handy.  You could request certain types of quests with certain rewards, so no randomness except the random nature of the quest.  You would end up being sent to a random door, or an outdoor location to kill someone, or any other number of things.   Very good system if they chose to use it. 

all I hope is that this type of random generated quests doesnt lead to the type of quests you normally get in EVE where the quests text makes it seem like you are going someplace new but in fact it continiously sends you to the exact same place as the one before doing the exact same thing as the one before, just the text the questgiver gives you is different.

I wonder how quest dialogue will be carried out.  Will ER use the standard text-box style or will they try something different.  Age of Conan offers a cinematic cut-scene for quests with the option to choose responses - and your choice may ultimately affect the dialogue in general, or the outcome of the quest.

I would like to see something similar.  With games like Mass Effect and The Witcher - "choosing your path" seems like a popular route to take and provides something a lot less linear quest/storyline. 

Ah questing, no other subject (besides levels vs skill debates) is as hotly discussed as this one.

As a gamer, I tend to read many forums. In many mmorpg forums the thread subject always comes back to quests. But more specifically, why in all the mmorpgs they tend to be the same. They are either randomly generated via what i call "the alphabet soup" method or planed out using the same formats rehashed over and over, just with a different shade of paint.

The reason people think quests are so boring after so long of doing them is because every mmorpg out there seems to be using the same "kill x of y" or "deliver product from a to b" quest formats. But in all fairness, there are only so many things a dev making stationary quests (quests that you get from an npc standing there) can do. So what is the answer?

The answer is simple. Its only a matter of thinking outside the box and rethinking/reinventing the current standard quest system. The answer is to base the quests off the surrounding environment... or in other words: Dynamic Questing. "Huh?!" you say. Allow me to explain:

A Npc (yes npcs would actually do something in this system) is transporting materials or products from player City A to player City B. Mob type A is flagged to agro anything that crosses its path due to players hunting it way too much... and attacks the NPC, the NPC programming kicks in and it runs away to the nearest player city screaming bloody murder. It comes up to a group of players that are just chilling or buying something and shouts for help, it would stand there until someone went and rescued the NPC's goods and came back with it, then it would reward them... walla dynamic quest. This is actually a complex example, but i think it gets the point across.  Quests that mean something, add immersion, react to the surrounding area, and are not just kill x of y type quests.

Anyway, that is what i believe games these days need to start doing. The standard type of questing system is a bit old.. and needs to be replaced.

Just my two cents.

This is sounding like its going to be quite a great system, I love the whole EvE sort of themed randomly generated quests. But what I most like in this system , is that you have to make a decision about which faction you want to be friends with, and which factions you do not want to be friends with. I cherish the idea that you cannot be friends with all factions, if it wasnt like this would just make the whole experience... less effortless , I guess?, which isn't very good, but your not doing it like that so... good . Anyway, its a great idea .