Hey Strafe,
We'll be clearing characters when we move into Beta. If you read the
progress report post #3 "Character Wipe", it explains a more about this decision. Briefly, we couldn't find a good way not to do one.
If you are a knight, there is not much new after level 15--more stat points, better items and new places to hunt is pretty much the most at this point because we have stopped doing mini-updates on this version of the game and are working behind-the-scenes on Beta. Once that version is released, though, you can expect regular updates with many new things to do.