I've really enjoyed doing my epics. I'm completed 1.0, 1.5, and nearing the 2.0 completion. Its been forever since I've done one (I'm guessing Agnarr) and the only part that can be challenging are Rare spawns. I'm sure on TLP's they're not as bad but if you're going back to your home server or if the server has progressed far beyond the zones in which they drop, you have to spend time getting the right mobs to spawn. Eldrig the Old is a great example. If you have several groups killing everything in the zone, eventually he'll pop but luckily there's a decent map with spawn locations and paths that give you a good chance so you're not wasting your time. Other than some of the mindlesss killing and hoping for some luck, everything else is really fun, nostalgic, and the lore isn't too bad in some of the quests either.
I'm not sure how long the 2.0 (or 2.5?) last in terms of relevancy once you hit the LS expansion, but I at least like to have the ornaments if nothing else. On a side note, I think the epic ornament quest is unnecessary. For the time you put into epics, you should get an ornament and a house decoration item version of your epics. Maybe you do now and I just haven't ran into that but that should be a given.