Reputation is being carried over. And it sounds as if the new events will give a ton of money. And with rep being kept most people will go straight to the 890's and other high paying missions.
Slightly annoying as I'd managed to get some cool rare helms.
edit:
Event Schedule Nine Tails Lockdown
Thursday, June 30 0800 UTC // 1 am PDT 1400 UTC // 7 am PDT 2200 UTC // 3 pm PDT
Friday, July 1 0800 UTC // 1 am PDT 1400 UTC // 7 am PDT
Monday, July 4 0800 UTC // 1 am PDT 1400 UTC // 7 am PDT 2200 UTC // 3 pm PDT
Tuesday, July 5 0800 UTC // 1 am PDT 1400 UTC // 7 am PDT 2200 UTC // 3 pm PDT
Jumptown 2.0 Begins: 0000 UTC
Saturday, July 2 // 5 pm PDT
Friday, July 1 Ends: 0500 UTC
Monday, July 4 // 10 pm PDT
Sunday, July 3