This game is in beta. They have like less than %10 of it released. All it is right now is one starter city and the surrounding landscape. And a level 30 cap(which takes like 2 weeks of hard core 12+ hour days to acheive). Expect it to take much longer in retail, they gave us an XP boost of almost 500%
Everything is a seamless transition, you walk from outside directly inside the dungeons with no loading or pause.
Way to early to be asking about endgame.
But as far as gearing up goes.....
Everything is rendered in absolute detail...you put on a ring or an earing... you see it on your finger or ear!
The games economy is completely player generated, during early alpha they had NPC vendors selling weapons and armor. But they removed, and replaced them with materials for crafting. Now the only weapons you get are from a crafter(sometimes armor is a mission reward...but mostly obtained through crafting). They haven't made up their mind if they will keep it this way...or provide at least the first dozen levels or so with NPC buy-able weapons/armor. Well know in 4 weeks when retail hits.
A for levels...yes it does have levels. You level up like any other MMO, the differance is you can switch your class on the fly by changing your equipment.
Another cool thing is you can mix and match skills and abilities from classes. So were going to see some really creative combos out there. Like a mage that can take a bit of a beating, or a melee class that can do some debuffs.
You pick your starter job and that determines your starting gear. But a quick trip to an NPC vendor, and you can buy all the level 1 starting gear and have any class you want.
PS.
You better have a beast of a Rig.
Mine:
Phenom II 955 BE @3.2
GTX 275 w/1gig
4gigs OCZ DDR3
80gig SSD
I barly run this game at low to medium settings.
720p resolution and can get about 27-35fps.
The interface is meant to play with 720p minimal, but 1080p would be ideal.
Oh, and crontroller FTW! This game is a dream with a controller. Get one if you plan to play with any reasonable skill. To keep botting and cheating to a minimal, SE has a software mouse implemented.
So unless you have a high end rig, the mouse/keyboard method will not be comfortable.