It works a lot better than it did in EQ when you first get the skill.  There's nothing to train up, so you rarely fail, but I hear it happens, hasn't happened to me yet, but I just got the skill last night.  The animation is hilarious.  When you succeed, you get a message that says, "Everyone thinks you are dead."  And the name above your head changes to "Joe Schmoe's Corpse" so anyone not targetting you might actually think you were dead at first glance.

I've heard that if you fail, you get a message that says, "Only you think you are dead," or something like that.

What's even more fun that feign death is the /playdead emote.  Go into 3rd person view and type that in.

Ever since I started a monk "alt" in EQ1 over 6 years ago, I've loved the class.  Lansydyr has pretty much become my online name for everything, and so far, I haven't become famous enough yet for anyone to try to copy me, thankfully.

I've been in Iraq for the past year, but joined Beta 5 as soon as I got back.  I have a little Kojani Human Monk on Server 3, and am really enjoying it so far.  I'm definately playing a monk upon release, and probably won't have any alts for a year or so, like it was for me in EQ.  I played exclusively on the Lanys T'vyl server and made a lot of great friends.

I enjoy raiding just as much as solo'ing and grouping, so I'm really excited about Vanguard, especially with what I've finally seen playing these last few days.  Not so much excited about the crafting/harvesting/diplomacy, but I recognize the potential for me to have other stuff to do besides run around and kill things.