A simple request, I don't think this would be game breaking considering how far DDO has come with it's TR system and 'hamster wheel'-like designs. Coming from someone who loves making and deleting alts to try out builds, these are some features I came up with(and would personally spend the time earning or buying.
Veteran Status 3: Whenever you make a new character, you can start that character out at level 12, complete with a set of "level 12" items.
- Iconics can start at 15, First life alts starting at 12 doesn't seem like a big deal.
Veteran Status Hard: Any first life character you own start with the capability to open on Hard, as opposed to being locked into normal. Your second life characters are able to open on elite.
- This is probably the most controversial, because it steps on VIP's toes, but otherwise, this just speeds up the rate at which you unlock Elite/Reaper (which is what the game is balanced around at this point).
Veteran Status TR: Whenever you TR or rTR, you can opt to instantly gain enough experience to hit level 4.
- Most experienced people can hit level 4 in an hour or two after TRing, this is just a QoL skip for those who want to avoid Korthos. There are still downsides (like missing favor and perhaps better than Veteran 1 gear).