I guess my viewpoint is slightly different to most people's regarding the euro release issues. I only recently decided to give CoH a go and currently have a lvl 20 char on Victory.
I'm sure a lot of you guys can empathise when I say I HATE getting into an MMORPG after people have gotten ahead of me, so the reason I started playing CoH at this stage was to get a feel for the game before Euro launch. The fact that the US version will not work on EU servers and vice versa is disappointing though not surprising (I play DAoC after all).
Despite this, I will probably still buy an EU copy of the game if I have to, because I want a clean slate to start my character on. For me, 90% of the fun of a MMORPG is creating my character, working up through the levels, meeting people and making friends along the way. The pride of having a powerful lvl 50 char is only a small part of my enjoyment - hell, I wiped 4 lvl 50s in DAoC just so I could play a different realm on the same server

.
I'm sure there are plenty of people who have held off buying the game until EU launch and will be new to the game, and like me, their enjoyment will be tarnished if people can just transfer their lvl 50 chars over onto what should be a fresh server. To my mind, this is grossly unfair to new players. If a transfer service is going to be introduced, it should be held back until at LEAST 3 (preferably 6) months after EU launch to even things up a bit.
So I'm pro being able to play on any or all servers, but anti character transferring to new servers.
P.S. As far as content goes, nothing needs to be changed. I see no swastikas or anything that needs to be censored for the germans, and we don't need a euro flavour' for our version, games like GTA:VC sold just fine in the EU.