Smedley also clarified some confusion relating to beta admission and the multiple planned phases over several Twitter posts. Ive included them all in one coherent post below.
There seems to be some confusion about PS1 Vets and the PS2 Beta. Let me clear it up once and for all. There are going to be multiple phases of the beta. Simply put we are adding more people in different waves simply due to capacity. Every single PS1 player who has ever subscribed to the game will have their Station Account activated at some point during the beta beginning with people who actively are subscribers. Again though we can only let in so many people during each phase so invitations are by necessity going to be staggered. So basically if you've ever subbed to the game you're going to be in.
However current subs are in the front of the line for that. In addition we have Priority beta keys given out they will be let in the early phases as well. For people that ask me "I played from 2005-2007 am I in soon?" the answer is you will be in an early phase.
Sources: Smedley on PlanetSide 2 Beta Start, Beta Clarification Post 1, Beta Clarification Post 2, Beta Clarification Post 3, Beta Clarification Post 4, Beta Clarification Post 5, Beta Clarification Post 6, Beta Clarification Post 7, Beta Clarification Post 8