q) what is NG?
a) No Grind, a very UO-ish way to play EUO
q) what is PD?
a) Permanent Death: fast progression but when you die, your character is deleted and you'll have to create a new one and start again!
q) how do I play?
All you need to know is in the manual:
http://swut.net/euo/manual/index.php/Introduction_to_NG
http://swut.net/euo/manual/index.php/Introduction_to_PD