(Ah, I now see that Hobo beat me to this...)
Of course this is all speculation but here goes:
I'm pretty sure the exp you gain in these is applied to the job you enter with. For example, if you're a WHM74 @1, go into the zone, get level capped to WHM30, and kill a mob, you'll probably come out as a WHM75 @43,xxx.
So, yeah, technically you can sit in this area and exp all the way up to 75 (except for limit breaks and anything else you have to do).
They balanced this, though, with their exp formulas:
(a) EXP calculations made based on current party level and number of party members * 0.5
(b) EXP calculations made based on actual party level (before level was restricted) and number of party members * 1.0
Once your "real level" gets high enough, (b) is not going to apply anymore because the mobs will check "Too weak." So, you use formula (a) and the current party level will be, for example, 30. I would guess that the .5 multiplier is going to really weigh you down. Now, when you kill an IT mob, instead of getting, for instance, 170 exp, you'll get 85. 85 for an IT with the attendant downtime you'll have will probably discourage a lot of people. Remember, you'll be capped at level 30, so no Refresh, Convert, Mage's Ballad II, or some of those really great weapon skills. You'll get exp, but it's going to be a lot slower than a non-level capped zone.
All that said, I'm still a fan because (1) yeah, it makes getting a party a lot easier, and (2) it makes it possible to play with friends who are not the same level or want to level a job that isn't the same level.
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