If not, this is what I have to say: Stating that your highest quality setting can only be handled by future hardware (which is what EQ2 does) is a classic case of selling a bug as a feature. This simply means that you did not put enough effort into optimizing your engine for current and near-past hardware. If this optimization implies reduction in polygon count, so be it. However, if this reduction in poly count results in your game looking horrible, then you have to find other ways to make the game look pleasing.
A Bug as a feature? What on earth are you talking about? I have Both Guild Wars and EQ 2. And the difference between the two are not even comparable. EQ 2 is loaded with normal maps. So its texture quality is tied in with the capabilities the shader core. This is easily seen by turning down complex shader distance and watch your texture detail die. Everything in guild wars is flat (IE a texture). This tends to be made up for by the fact the textures are fairly detailed.
In EQ 2 the normal maps give greater quality the textures and enviromental details. You can run the game at Quality Textures with normal maps/lighting turned off and the game wont look as good. But the actual game wont look bad either. Just turn off complex shader distance and keep textures at high. As texture performance is not the bottleneck in EQ 2. Other than possible texture video memory footprint. Which is alleviated by other bottlenecks such as geometry skinning anyway.
The problem with EQ 2 is you simply cant reduce polygon count significantly. Not to terrain and nearby areas. You can do minor adjustments to geometry far away. But not significant. The geometry in EQ 2 is very complex paticularly in areas such as docks such as qeynos/north freeport. Besides after all geometry is skinned. Normal maps are applied to textures.
Guild wars Is not even remotely as complex ((or scalable) as the EQ 2 graphic engine. And comparing the 2 engines is really comparing apples to oranges. I think its about time for someone(They know who they are) to queue in and say
EQ 2 sucks because its a SM 1.1 game and data is offloaded to CPU"
EQ 2s biggest problem and most important problem is reducing memory overhead of the game and getting rid of that awful memory leak. The game is scalable towards the future because as I have steadily upgraded my PC over the last 7 months ((4 upgrades so far) The game and performance has improved. EQ 2 looks like crap at the lowest detail settings. But it looks pretty ok at medium detail. And fantastic at moderately high detail. And even better at settings my system cant play.