Motstandet has a post up praising the immersion offered by FFXI's harsh travel system. More than anything else, this system was the reason why my stay in Vanadiel back in 2006 lasted for a mere 5-6 weeks. At the time, soloing was not really an option beyond level 10 or so and you could not get a group if you weren't in the correct zone (which may or may not be the zone in which the group would eventually be leveling). As a newbie, I lacked both the knowledge and the resources needed to pull off this travel successful. The problem was not that travel was hard, or that it was time consuming, but that it literally prevented me from getting where I would need to be in order to play the game.
That said, I look at EQ2's new travel map system, and I'm not sure that they haven't gone too far in the opposite direction.
The New EQ2 map
You could argue that EQ2 travel was in need of a user interface overhaul. If you were in Qeynos and wanted to get to the Enchanted Lands, you needed to know to take the boat bell to Antonica, from Antonica to Thundering Steppes, from Thundering Steps to Nek Forest, and finally from Nek to your destination. (At least, I think that was the order.) The process took about 10 seconds of gaming time but it also triggered a total of four loading screens, and a newbie might legitimately not have known which way to go.
(Another absurd example: I could never remember what subzone of Freeport the Research Assistant lived in, so I would instead ride the carpet to Sinking Sands, carpet to Butcherblock, run to hills and fly to Gorowyn to use the RA there. The lore openly weeps that I'd travel all the way around the world because the Freeport city guards could not tell you where in their own city the Research Assistant lives. Then again, I suppose they might be mean enough to do that on principle.)
In the new interface, you click on any bell anywhere in the world and get the above map. You can pick any zone - including some inland destinations that did not previously have bells - and you'll appear right there. Wizard and Druid portals also use this new UI, but offer slightly different destination (including newly expanded options from the last two patches). If your guild hall has all three travel options, you can teleport instantly to at least one point, and possibly as many as three, in every single zone in the game.
Location and Context
I will concede that it is more likely that I will correctly identify continents on a map of Norrath now that I actually look at one on a regular basis. Given that zones were already broken up with loading screens that might encompass vastly different distances, the amount of additional harm done by moving to a single map is minimal compared to the previous clunky UI.
At the same time, this approach kind of removes zones from their geographic context. Previously, if you wanted to ignore the breadcrumbs and just go exploring, you knew that Nek and TS were your hubs and you could branch out to there in search of something in the right level range. In a more-connected world like Azeroth or Vanadiel, you would literally walk to the edge of the current zone and the next zone over would be aimed at a higher level. In EQ2 today, if you want to go somewhere new, you'll have to start clicking at random, load up the Wiki, or go to the new "storyteller" window of the quest log (which will flat out tell you where to go).
At the end of the day, I still think that there has to be a system in place so that a player who has somewhere to be - especially because they're looking to join a group - has a way to get there quickly. I'm not opposed to working for that privilege through rep grinds, consumable daily quest rewards, or gold or whatever, and I definitely support making players reach each location at least once on foot before they can insta-port there. (This was part of EQ2's druid rings, and they removed it for the new patch.) However, there are enough other obstacles in the way of group content without also having travel block access.
EQ2's solution may be better than WoW's approach, which is to literally teleport you instantly to a dungeon on a continent that you've never even visited, if that's what the random group finder picks. Still, I'd be happy to give back a little of this arguably excessive access to get a little bit of that sense of zone progression back.