Every character now has a personal fame rating. This rating is derived from your Total Favor x (Heroic Levels + Epic Levels). It is a measure of in-game achievements and personal renown.
It does the following:
-Immediately adds to a guild's current renown and upon a player's recruitment. This additional renown is never reduced from decay, and is completely removed if the player leaves a guild for any reason. This is an additional, separate score from guild renown.
-Gives a slight discount from the various in-game merchants.
-Allows access to special crafting areas and PVP zones.
-Some NPC's will provide additional services for a fee (teleportation, etc). A few will sell additional and unique items to you depending on your fame score.
Possibly additional benefits not yet thought of.
Also, because of the guild renown benefit, the cap of 100 would likely have to be removed on guilds (but not necessarily any extra benefit given beyond 100 except to display a higher number)
Each character's fame score would be publicly visible in the examine menu.