A little off topic here, but I wanted to add some helpful input.
I'm glad someone else mentioned the incompatibility that such eventful quests have in a gameworld where the historical nature of such events is a valued part of the RP. The reason that they include them in less strict MMOGs is to allow all players a chance to partake in some aspects of history. E.g., in a certain so-called MMORPG — it was really an MMOG in the theme of an RPG and not an RPG itself — players didn't give a shit, and if they did then they grouped and did the quests together and just overlooked it (like on the RP servers).
Well, there's ways to develop that style of play, but that's not what I wanted to share.
One solution to this dilemma is to have episodic stories, which allow for epic conflicts and derring-do while compromising with the everyday, and accommodates a persistent world where all players aren't on the same schedule. The same thing done in other serial drama like comic books, golden–age radio, oral traditions since time immemorial, and even player–driven gameworlds like EVE Online, excepting that they often don't have the depth of detail necessary to reach the same epic qualities.
Rift, from Trion Worlds, actually made a fairly good attempt at that sort of thing, although most of their players tend to be WoW scions, and so they also emulate it to draw people off Bluzzard's market.
Eh, so anyway, although certainly many quests will be of a very mundane nature, and at that not really the sorts of quests you see in faërie stories, there could also be opportunity to have repeatable adventures.