Well first off, all characters wouldn't be completely unique. They would have common traits with others across the galaxy. The procedural generation thing, doesn't just work with planets. That doesn't matter too much, because players wouldn't be working with all characters everywhere. Probably just a handful in a few systems. But they would still be the characters that that particular player is dealing with which I think is the important part.
As for for instancing and persistancy, all I can say is this:
https://forums.frontier.co.uk/showthread.php?t=7494
Oh, I'm aware of the DDA on NPC tiers. However, I suspect that a lot of that was written before the true realities of the multiplayer system, as it is now, were known. An update as to whether that is all still on the cards would be greatly appreciated by many I feel (even though it doesn't have the same 'sexy' impact as planetary landings or explorable ships for instance).
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I'd imagine in terms of complexity and storage, tracking tier II and I characters would be a comparable, but greater challenge to the tracking of exploration data - and that has taken a good few months to sort out. Also, see my earlier example regarding instancing, if high tier characters can be killed by a player, and they exist for many players - in who's instance do they exist? Trade data you can aggregate and 'fudge' to get the update for the day, bit more difficult to do that for NPCs. And that's before you'd consider how the solo-online guys would feel (say you lose a valuable NPC trade partner because someone killed them in open?)
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Finally, I'm aware proc. gen. can be used for more than planets. I get to have fun with it on a daily basis at work too.
I wish I could argue this effectively!
That wasn't an effective argument, it was a bluntly stated subjective, sound-bite. One, I partly agree with, (the game would fail if it was remaining static) but one would prefer not to subscribe wholeheartedly to.
Yes but you are still talking about Grinding.
OK. You call it 'grinding', I see the same gameplay as the previous Elites. I'm not bothered about making credits quickly, I like messing around in super-cruise, and, given chance, things are probably going to get better from hereon in. [NB: All subjective again

] I see a game that I'm not 'pressured' to 'complete', where the storyline is my own, and I can dip into it for a couple of hours, fly a spaceship and see the sights. Now whether Elite holds up against No Mans Sky, Limit Theory or Star Citizen, remains to be seen.