Lineage 2 has an olympiad, you need to be an end game character which takes forever, gear is also not soulbound, and you need epic gear which is pretty much only obtainable by being in one of the best clans on the server, and it's a month long competition, whoever finishes first place in their class (36 classes) becomes hero, when you're hero you get a global chat, special skill, special weapon and your character has a glowing aura around it.
However servers usually only have 2 dominant factor sides, those 2 clans will usually take 20-25 heroes or so, and the remaining ones will goto random clans that happen to have some good players and good gear.
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i guess guild wars 1, but its not really an mmo.
as far as arena type pvp, you're not going to get much better than WoW.
Guild Wars is practically centred around arena-based PvP.
ah, ok
thanks for the replies 
Love MMOs
Lineage 2 has an olympiad, you need to be an end game character which takes forever, gear is also not soulbound, and you need epic gear which is pretty much only obtainable by being in one of the best clans on the server, and it's a month long competition, whoever finishes first place in their class (36 classes) becomes hero, when you're hero you get a global chat, special skill, special weapon and your character has a glowing aura around it.
However servers usually only have 2 dominant factor sides, those 2 clans will usually take 20-25 heroes or so, and the remaining ones will goto random clans that happen to have some good players and good gear.