What's the difference?
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Lordaeron is x1 rates with harder tuned raids. No coin/point shops, and overall lower population.
Icecrown is x7 rates with original difficulty raids. Coin and point shops are present. Favored realm by many.
You can lower your EXP rate in Icecrown by right clicking your EXP bar, and set it up to x7 again (switching EXP may have a long cooldown though).