Everquest 2: Death & Binding - Moorgard speaks

This is what Moorgard had to say in the official forums in regards to Death and Your Bind Point.

Once you earn citizenship, you become attuned to a return point within the city. Every class will have the ability to return to its home point, with certain restrictions. The "casting time" for this ability is long (like 30 seconds), you can't use it if you're on any creature's hate list, and it will have a long reuse time (like an hour). When you undertake the betrayal quest, part of completing it will attune you to the recall point in your new home city.
The intent is to provide a way home at the end of a night of adventuring, not to use it as a means to escape danger. Whatever tuning we do to this ability (which won't require power) will be geared toward fulfilling that goal.

Please note that the post above doesn't change what happens when you die. Upon death you either wait for a revive from a priest or you choose to respawn at a nearby adventure camp. Returning to the recall point in the cities is not an option upon death.