It won't restore your HP or MP, you can't set it as a home point in case you are KO'd, it doesn't care about your standing with your guardian, your faction, or your momma.
This made me LOL so hard!

I'm kind of weird and rather enjoy the fact that the wards aren't connected >.>
Then I can leave Ul'dah, go to other cities to sell wood/ore/alch mats and feel like i'm the Donald Trump of Copper Ore!!!!

But seriously, if SE decides to connect them all, I could get on board with this idea.