I am one of those EU players, and have several other EU friends who are currently looking at this decision to move rather warily, considering this might end up being game-breaking if it is indeed somewhere that gives us EU players a horrible base ping, let alone individual players who already made do with less than awesome ping because their country's internet was less awesome. I've usually been lucky throughout most MMO's in that I'm in a very good location overall for high speeds, but others among my friends might not have that freedom of being able to deal with it. I fear I might have some issues too, depending on how badly chosen the location ends up being for us.
Wouldn't be the first time EU got the short end of the stick either with FFXIV - First they had all the EU servers and everything right there with the NA servers. That actually made some people I knew at the time decide to skip on playing at all. And while I was barely active/inactive during it, the maid/butler costume code event for EU players was apparently horrible too, and caused many EU players to not be able to get those.
Right now I have my fingers crossed that things aren't as bad as feared, but... If they are, I can pretty much guess that there will be several of my friends quitting. And a free transfer might be a potentially somewhat soothing option in such a case, but I'd get the short end of the stick there as I'd bought myself a house in-game somewhat recently, and actually had gone to getting some expensive decorations up too. Would suck to lose the expensive pieces I can't retrieve, to say the least. Not to mention that I'd have a huge pile of furniture and no house if I moved.