Yeah, your collections and legacy earned buffs transfer with you.
There's not a lot of open world PvP here. You'll find some, particularly for 55's on Oricon. There's a consistent group of Imps haunting The Outlaw's Den, always the same cast, and easily the most foul-mouthed, snide, trash talking bunch of weenies I've ever seen in a game.
I'm the patient sort, and a solo player- I can generally find somebody to scrap with during peak hours. If that's your kind of game, you might have some fun. Seems to me server population here continues to dwindle, the FTP players outnumber subs, so fights are fewer and the rudeness grows exponentially.
Good luck with your choice.