I've been playing EQ2X until another MMORPG worth paying for comes around. While EQ2X has your standard hassles if you didn't pay (less bags, less character slot, lower gold limit, etc), the only real limiting factor for freeloaders is that you can't equip anything that's equivalent of blue or better unless it's tradeskill made. However the good tradeskill gears are usually as good as the blues of that level and sometimes better and there are a lot of tiers of levels where there isn't really a purple tier. Now the tradeskill system in EQ2 is pretty time consuming but can't complain much if you're a freeloader. You can get a lot of basic stuff for the 1000 SC ($10) one time fee for the silver account, and your account comes with 500 SC if you sign up for FreeRealms on the same account (only have to click on the icon, don't even need to download the game). Alternatively you can use your starting 500 SC to buy like 2 tradeskill items on any level and that should be more than enough for any solo stuff for a melee class (assuming one of the items you bought was a weapon).
You can also buy tokens that lets you equip gear you otherwise cannot equip (as a function of your subscription) at $2.50 for 5, so you can probably equip a character in full raid loot in under $10 if you're careful about what you use your tokens on (and have the items of course), and at that point your character is functionally the same as any character who is paying a subscription, at least until the next tier of more uber loot comes out. In fact, it's not obvious at all to me how this game is supposed to make money, but that's not my problem. Since the freebie deal is actually a really good deal there's no shortage of players for the most part.
You can also buy tokens that lets you equip gear you otherwise cannot equip (as a function of your subscription) at $2.50 for 5, so you can probably equip a character in full raid loot in under $10 if you're careful about what you use your tokens on (and have the items of course), and at that point your character is functionally the same as any character who is paying a subscription, at least until the next tier of more uber loot comes out. In fact, it's not obvious at all to me how this game is supposed to make money, but that's not my problem. Since the freebie deal is actually a really good deal there's no shortage of players for the most part.