Let's say I main a Shadow Knight, but the raid only has three bards. We need one more bard and one less SK. My personas are SK, Cleric, and Bard. Are guild leaders allowing players with personas to switch to a more needed class in a raid and letting them bid on their main's items? I haven't played on a TLP while the persona feature has been active, so I have no idea how guild leaders are implementing this feature in their guilds. I know every guild is different, which is why I'm asking for a general consensus. I have a persona combination that I am excited to try out on the next tlp.
That is dependent on the individual guilds. Talk with the leadership of the guild you are in to find out for your specific guild.
It really won't be any different than if you played an alt, hence a similar policy as guilds have for alts.
