There's some EQ2 news on EQ2's website this morning about "Shards of Destiny Preview: Chronomagic".

As promised, with Shards of Destiny, we'll see the introduction of Chronomagic.

What is Chronomagic?

In each of Norrath's major cities -- Qeynos, Freeport, Kelethin, Neriak, and Gorowyn -- you will find an erudite known only as a Timeless Chronomage. This new form of erudite magic will allow adventurers to reduce their adventuring level, facilitating lower level exploration.

Adventurers will need to be at least level 20 to partake of the Timeless Chronomage's services. They will offer to lower your level in five-level increments.

There are a few caveats, addendums, and quid pro quos... The bigger the gap between your actual level and your adjusted level, the bigger the decrease in your experience gain. For adventurers on the PvP servers, the same restrictions that you have while mentoring will apply.