While the new proposals for Epic Reincarnation are leaps and bounds over your first proposal, I have to ask; what's up with this obsession that to move forward we have to go backwards?
Won't I basically have to play most of the same quests anyhow, whether it be level 20 or level 28? Especially with having maxed Destinies, I'll be far more powerful than a fresh level 20 who has just activated a Destiny (especially depending on how powerful Epic Past Lives are too, which will make me even more powerful). How compatible will we be in quests? Won't he just resent the fact that I can basically do the quest for him?
Why is a game where I'm just leveling back up to pick back up a few Feats, a tiny bit of extra HP, and reach ML requirements for gear I already have, superior to a game where I stay at cap and pretty much play the same range of quests anyway (minus a few here and there that are just too easy to bother with and the only reason I'd do them as a level 20 ER is because I'd have to since I would be locked out of higher levels thanks to that silly new level gating mechanism you introduced).
Is there any way at all to convince you to allow two methods to acquire these "Epic Past Life Feats"? You could split it up and allow those who desire to go back to level 20 the ability to do so, while allowing those of us who'd rather stay at cap do so and just need as much xp as if we were progressing to level 20-28 as a requirement to gain more "Epic Past Life Feats".
Please, just think it over. Is the easily-seen-through illusion that we have more content really that necessary? Is playing not to acquire gear, but rather to re-equip gear, that great a concept?