They say in reviews in fable 2 that in coop you wont be able to take ur character over into someone elses world, so you will no longer have ur weapons or any stats just some random character....
Your partner picks a save from his profile, picks a premade character (Good female, evil female, good male etc...) picks melee and ranged weapon. First player picks how much %'s he wants each player to get in gold and EXP and your own your way. Not sure if it'll be different on xbox live, but honestly it doesn't bother me at all. And you do get to keep the magic spells you have at least.
You can take your stats, but not your weapons or apperance.
And online isn't patched yet, so I don't know how that works. I imgaine you'd be able to take everything for that, according to the way the E3 demo made it seem.
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