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POK is a poor fantasy city. I think what would pump life back into EQ is to give players a reason to hang out in old world cities (Freeport, Qeynos, Halas, etc...). Have auction houses and banking and training and such ONLY in those places. Or mostly so....
As far as travel in this huge, huge, huge, world, I think the same teleportation spires can exist in those cities, just eliminate POK altogether.
Just my two coppers.