I don't think the 10x thing would be needed just yet. The basic EQ world supported 500 players quite easily, even with the bulging curve at 20-35. As long as you only had those 500 people (which meant playing late at night during weekdays) you had plenty of good mobs to go around.
It would be a lot more work, but I'd suggest calculating risk/reward more efficiently in order to make EVERY mob have a purpose. The reason why it takes people so long to level (discounting hell levels) is because of the lack of quality. If we all hit the gravy mobs all of the time, one level/day from 20-50 wouldn't be so hard. Instead of overcompensating and making the treants (for example) give a huge amount of exp, just boost mobs that are just as difficult to kill up in line with them.
At any rate, YES seems to be the resounding answer. Everyone wants a legit server.
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