Late to the party, I know, not that I was trying to be fashionably late rather I took my son on Vacation before he had to spend much of the summer with his mother.
I read the original post and several hundred comments but I want to start at the beginning.
The TR process is currently broke and IMHO Turbine should start by fixing those issues before complicating the whole process.
Passive Past Life
Check out the DDO Wiki for complete details (http://ddowiki.com/page/Past_life#Past_Life_Feats)
Barbarian 10 additional HP. Really I mean in a game where melees are expected to be in excess of 1000 HP that small bump of 10 HP is well ...
Bard +1 Song, +2 Saves vs. Enchantment and Illusion
Cleric ... Wizard
All of those need to be looked at and re-worked. I am not sure what would make the passive past life feats more effective without making them over powered.
Barbarian should give Toughness as an example.
The next issue is the Active Past Life Feats, which require use of a feat also need some work.
Now let is look at the big problem.
28 vs. 32 vs. 34 vs. 36 and now vs. 38 point builds
Many people get caught saying the bigger number must be substantially better, which is not always the case.
Because players have to spend those points when creating a character what does those additional points actually accomplish.
In a two stat class players will spend a majority of their points in two class, for example Strength and Constitution in many fighter builds with dexterity and intelligence getting minimal points and maybe a point or two in wisdom.
Adding 4 points to 32 allows 3 additional points (1 point in the stat) in either strength or Constitution and one point in intelligence or wisdom.
Adding another 2 points (34). Well it can't be used in Primary Stats and the secondary stats probably will end up with an odd score and ...
Okay add another 2 points (36). Well you can up of your primary and one dump stat...
38 ... Well...
In three stat class the additional points are valuable when going from 28 to 32 and again at 36.
In four stat builds the additional points are valuable at 33 and 37 points.
When I say valuable I am talking about meaningful increases of "primary" stats to a useful number (increments of two). Increasing Charisma by one point on a Half-Orc Barbarian is a useful as... [insert joke here]
Might I suggest taking a completely different approach to past life point increases. Rather than increase stat points in a build allow players to increase a stat based upon their past life.
Artificers - Either Intelligence of Dexterity
Barbarian - Either Constitution or Strength
Bard - Either Charisma or Intelligence
Cleric - Either Charisma or Wisdom
Druid - Either Charisma or Wisdom
Favored Soul - Either Charisma or Wisdom
Fighter - Either Constitution or Strength
Monk - Either Dexterity or Wisdom
Paladin - Either Charisma or Constitution
Ranger - Either Dexterity or Wisdom
Rogue - Either Dexterity or Intelligence
Sorcerer - Charisma
Wizard - Intelligence
You may increase only use the increase once per past life to a maximum of three times. Thus if I was on my fifth life I could choose any of the past four lives for my first stat increase, and then any of the remaining three past lives for my second, and either of the remaining two past lives for my third.
When it comes to Epic TR instead of +1 to a stat point make it +2 to a stat point based upon Sphere and the bonded Epic Destiny.
Arcane - Charisma or Intelligence
Divine - Charisma or Wisdom
Martial - Dexterity or Strength
Primal - Constitution or Wisdom
While this is not a complete thought it is more along what I would be advocating.
I have no issue with the XP costs of subsequent lives see the ddo wiki the problem is more about a lack of available XP available in the level 15 to 18 range depending on how you break it down. If you were to dramatically increase the amount of XP in this level range, thinking adding another Vale of Twilight, Amrath, Reaver's Reach and you'd just be scratching the surface of the issue. Currently if I have to run Monastery of the Scorpion or Enter the Kobold one more time...