Насколько я понял из офф.форума, все звания обнулят, все ФП заберут, а взамент дадут медалек эквивалентных 10000 новых пойнтов:

It's not a publish gift. It's the reward for having reached Colonel. They take away your rank, take away any stored Faction Points and give you a commendation worth 10k GCW points. If you aren't a Colonel, you might get something similar, but worth fewer points (or perhaps they set us at level 3 AND give the 10k?).

Поправьте, если я ошибаюсь.