The impression that I've gotten is that Landmark's combat is going to be a pretty simple "look, we didn't lie, we really have combat!" system. It'll probably be most useful to the developers of EQN as a way to get a rudimentary combat system tested by lots of users, that they can elaborate and expand on after they're happy that the foundation is solid. That's pretty much SOP for Landmark though, right?
I got the 7 day closed beta invite for my old EQ account also, and after playing for a little while, it really really feels like a high definition graphics version of RuneScape, except that 90% of the game hasn't been started being built yet. If I had played a lot of Minecraft I'd probably see things differently, but I never could get into Minecraft either. So basically I like the tiny little bit of game that's present in Landmark, and I'm looking forward to seeing what they do once they actually start turning that into a real game. I'm still not getting my hopes up too high though, because like I said, it already feels pretty RuneScapey.