Ok, RYL1: few updates now, balanced gameplay, race orientated, i.e. each race has a home map (no pvp), a map that can be accessed by the enemy but has no enemy towns on, a third map where each race holds half and an arena which is about a quarter the size of the others and each race fights for control over 3 statues (its a constant battle). Gear upgrading is generally not that important as the max you can upgrade is +9. Armours and weapons have lowish specs so its possible to get a high spec weap and armour (looks cooler) Generally, pvp is down to skill and tactics more than gear and builds. The game is generally weighted a bit to the akkan side, however there are usually more humans so it's balanced out. Theres a patch coming soonish (as mentioned before) that is meant to help balance it further.
RYL2: both races share the same first map (no pvp), there's a second map (no pvp) and a third map (same as second, pvp allowed, exp 25% higher) Every day there's a large war on the third map for control over 7 statues, after 2 hours it ends and each statue gives the holders bonuses like exp, HP, MP etc. The pvp system is very gear orientated, items can be upgraded an infinite amount (gets harder after a while. There are also more skills and equipment with higher specs for them so generally, if you want good gear you need a pure(ish) build. The game is, overall, balanced in terms of what each race has at their disposal.
Overall, on RYL1, PVP is generally more fun and balanced, however, on RYL2, PVP is on a much larger scale and there is more to do when you aren't fighting. If you want nice, scenic, diverse worlds, then RYL2 is good, if you want each race's world to be orientated around them (i.e. akkan world is dark, gloomy, volcanic etc with devilish mobs etc whereas the human world is more scenic with more common mmorpgish mobs) Also, RYL1 has a lot more towns than RYL2, however, the towns in RYL2 are generally far more detailed and interesting to walk around.