Will this update require us to create a new character
Definitely not
from testlive ( where i had already char before) u should just get message of day with text that there is update chat changed stats or something , so your stats are reseted.
this is all that had in testlive when update was released!..
So answer will be : U dont need to create new char, but just place stats from 0 as u want …
But if it makes anyone feel better, they can certainly recreate their character, wipe their servers, etc - but Funcom are only resetting charater stats so they have to be reapplied into the new Stat tiers.