In the upcoming March version update of Final Fantasy XI, a brand new battle system, Vagary, will be introduced. This new content will send adventurers deep into the mysterious Outer Ra'Kaznar to do battle with the three members of the Xol Triumvirate. Those that brave these new challenges will see various rewards including Empyrean armor reforging items, as well as synthesis items to make new item level 119 and Superior 2 equipment!

Excited for this new content? Let us know over on the ZAM forums!

From the official Final Fantasy XI forums:

[dev1259] Vagary: All-new Battle Content

What is Vagary?
Vagary is all-new content that pits Vana’diel’s bravest adventurers against the Xol Triumvirate, with victors receiving hitherto unforeseen spoils and rewards.
Winding passage found in the depths of Outer Ra'Kaznar lead adventurers to confrontations with all three members of the triumvirate: Balamor the Deathborne, Dhokmak the Brash, and Ashrakk the Duskbrood.

• Joining the Fray
  Players must meet the following requirements in order to participate.
  
  • Have the FINAL FANTASY XI: Seekers of Adoulin expansion installed.
  • Have registered the Seekers of Adoulin expansion content.
  • Have reached level 95 or higher.
  • Be a member of a party or alliance of between three and eighteen members.
  • The party leader must have reached a certain point in the Seekers of Adoulin missions and be in possession of a certain key item.*
    * There is no requirement for the other members of the party but the encounters in Vagary may spoil parts of the story that unfolds in the Seekers of Adoulin missions.

• Obtaining the Key Item
  Obtain an item dropped by a certain monster and trade it with the Odyssean Passage in Leafallia to obtain the requisite key item.

• The Gates to Vagary
  There are three entrances to Vagary found in Outer Ra'Kaznar, each leading to different battles and monsters, and housing a particular member of the Xol Triumvirate.
  * The key item required for entry is the same for each of the entrances.

• Probing the Depths
  Vagary has a time limit of forty-five minutes. Powerful rewards await those who survive the fight into the chambers' inner recesses and defeat the representative of the Xol Triumvirate.

Vagary Rewards
The final bosses will drop materials crucial for synergizing item level 119 and Superior 2 equipment, as well as items necessary for reforging Empyrean Armor to item level 119.