Besides getting a peachy keen heirloom to hang on the wall, you get certain roleplaying opportunities. First thing to consider is what level is the EQlive character that the EQ2 character came from? In this kind of fantasy medieval society, adventurers aren't the standard. They are the exception. Adventurers have grand epics written about them if they do particularly great deeds. Slaying dragons, visiting other planes, fighting hordes of monsters... How will this effect the EQ2 character? I'll give you an example of what I -could- do:
 
My EQlive Character is Saeyn Z`Ress (lvl 50 Dark Elf Shadow Knight)
Slayed dragons, visited planes, fought hordes of monsters
Being that elves live a long time my EQ2 character, Kraevyn Z`Ress, is Saeyn's grandson. This will of course have an effect on my character as it undoubtedly had effect on his father as well causing him to do the same. This of course, deep down, puts a lot of pressure on my character. To him everyone expects him to live up to the Z`Ress name. Sometimes this might intimidate him, might seem too hard for him.
 
Of course that is not what I'll be doing as that's not what I want to do. His weird quirk will be having an affinity for animals.. it's the sentients that piss him off.

Maybe it was the army going after the draon, but it was my Great Grandmother who lead the charge. She gathered the forces, outfitted her troops, and planned the attack strategy.

Now, that was my EQlive character, and not the EQ2, but it would seem very heroic to a young impressionable Half Elf.

I cheerfully disagree with you, Wilkie, as Norrath is a world of heroes faces unimaginable challenges, slaying GODS no less.

Yes, the greater part of Norrath's population is indeed the best things since sliced bread!

*Cheers wildly at her sandwich*

My point isn't too contradictory to yours I don't think.  Maybe I just didn't clarify well.  I am just saying, not everyone has the history of being the person that lead this or that.  If everyone said, their ancestor was a particular pivot point in history, it would be a little ridiculous.  No one would have been in those armies if everyone was the leader.  If your EQLive character actually DID lead the raids, it would be reasonable.  I would also assume those that are guild leaders can argue a bit more of a heroic history due to their status.

Everyone likes to RP differently though.  I am sure not everyone will decide their family was the one that changed the fate of Norrath, and it will even out.

Heroic ancestry = good.  Everyone's ancestry being the leaders = unrealistic.

Wilkie's great grandfather Toggle, fought Nagafen as part of an army.  He was the last one standing, revived, standing again, revived, until his life force just couldn't take it anymore.  This is how I describe his death, heroic, with impact, without claiming a stake in the throne of best doobie ever.  And it's actually about when I stopped playing my character, so it fits well.

Anyways, my personal preference, I realize this.  I would enjoy to be the destined chosen one or something of some ancient clan like some people choose to describe themselves, but I don't wish to force my importance on other people's roleplaying.  If I am in a group with 7 people who are all like this, the chosen one or whatever they describe themselves as, is no longer a rare occurence and kills the immersion for me.  It just becomes the norm that everyone is a gift from their god.

It is true, slaying the avatars of gods, makes us all super mighty folks, but there has gotta be some way to tone it down in such a way that it doesn't sound like everyone's character was the only one on the front line.  Just to make the game more believable.

I only put my comment in in hopes that some folks will consider it and maybe consider playing their character in a more roleplay story enriching experience.  Or at least, what I consider one.  If someone lead a raid, a guild or whatever, let it be known, be the big stuff you are.  But the folks who fake their histories to stay along par with everyone else, ruins the prestige economy.

Anyhoo, a friendly debate I say, no right or wrong to this I am sure.  It is important to mention that you got me to laugh out loud at you cheering wildly at your sandwich...