Fallen Dynasty is bringing back Zeboxurox(sp?), but apparently his memory has been wiped. I have only started to read up on the lore and I suppose most of it will have to be discovered in-game, but it seems possible that this ties in with the return of the gods in the next expansion. I never cared for lore all that much, but I really like EQ2's storyline.
Plus many quest NPCs ingame are hilarious and make reading the quest text well worth it. I absolutly love the gnome for the tinkerer's bag, how he tries to hide the fact from you that he's building a jet pack and you have the "honor" of testing it. "Go kill the flying thing on the middle island" and when you get back "You failed to tell me that it's a DRAGON!" "Did I? Well, stop complaining. I'm sure Queen Antonia and Sir Lucan don't have to deal with this whining."

(paraphrased, of course)