In regard to choosing your home city, remember that if you use the RAF program you'll have the instant warp (a.k.a. "go-to") option available between linked accounts, which means you can use it to your advantage when choosing which starting area to level in.

For example, I wanted my home city to be Qeynos on all of my characters; however, I wanted to level in Timorous Deep since it offers some of the best armor for new characters, so I created all of my characters on the Isle of Refuge (Qeynos) and left by boat to Qeynos so that I received the "Call of Qeynos" ability, then proceeded to roll a linked new character in TD, grouped the good character with the evil one, and immediately warped to the other character's location via the "go-to" option, which will appear in the party member options sub-menu when you right click on a linked party member's name. Remember that in order to access the "go-to" option, the characters MUST be on linked accounts, but level/alignment doesn't have any impact in this case -- you can warp to any location you wish, just like WoW's "summon friend" option, which will be incredibly useful until you have ports available to you.

Yes, it might take a couple of minutes to warp all of your characters to TD (or wherever you choose), but it's much faster -- not to mention simpler -- than walking, which is something that I probably wouldn't have bothered with otherwise. After you hit 20, you can immediately warp yourself back to Qeynos.

Also, having two veteran accounts involved in the linking process will complicate taking advantage of the bonus xp/go-to features for the reason I stated above. I understand that you might want to claim your veteran rewards on both accounts, but I'm just speaking from personal experience in this case. My friend chose not to link his accounts to mine this time, for example, and I'm finding the lack of a "go-to" option between us to be really irritating. As long as your characters are always grouped with each other, I don't see why you would have an issue, though, since you wouldn't be having to second guess which account is linked to which in that case.