Here's some more detailed info that should clear up how the AoS Launch Gift feature works.
First off, only characters of a certain age will be able to claim these gifts, and there will be a limited window during which characters are given the gifts. I'm not going to be more specific here, as the point of setting up this character age and gift giving window is to prevent character creation for the sole purpose of creating gift items to trade. Suffice it to say that any character you create now will not receive the gift, but any character that already existed up to and a few weeks after the AoS publish will.
In order to claim your gifts, you have to log in your character between the launch of Publish 18 and Publish 19. However, once you've logged in and gotten the "launch gift flag" then there is no time limit to actually claiming the gifts. You will be prompted on each login thereafter to claim your gifts, until such a time as you actually claim them. That means you have all the time you need to obtain any power scrolls before choosing a skill bonus.
The gifts are delivered through a "wizard". At each step you make a choice. Once you've made all selections relevant to a gift, you get a confirmation window showing all the choices you made. You can back out or continue. If you close the wizard without choosing a gift, then you'll be prompted on next login (even after Publish 19 -- once you get the prompt you'll be prompted forever, until you choose your items).
The first gift given is the wearable item or rose with custom engravings and color. Once you've chosen that item, you proceed to the second gift. Here you are given the choice to increase a skill by 5 points, or to increase your stat cap permanently and cumulatively by 5.
The skill or stat cap increase happens immediately when you confirm your choice and is not delivered as a scroll or other item. The wizard will not let you attempt to increase a skill that is capped. Also, if you are at your total skill cap, the wizard checks to see if you have enough skills set to lower so that you can gain your chosen skill. (It also requires that your chosen skill actually be set to raise.) Also, if the skill you've chosen to increase is within 5 points of its cap (meaning you won't get the full 5 points gain) you'll be warned about it but allowed to continue if you want to.
The stat cap increase is cumulative with power scroll stat cap increases. If you gain +5 now through this gift, bringing your cap to 230, then if you use a +10 scroll later your cap will go up to 240. The maximum possible stat cap is now 255, which you can get by the +5 from this gift and a +25 scroll (used in any order).
So, to recap: Your character must have existed before now in order to claim launch gifts. To claim the gift, all you have to do is log in between Pub 18 and Pub 19. Once you have logged the character in and the character has received the gift prompt, you can cancel the gift wizard and select your gift on next login. The prompt does not expire -- once your character is recognized as a gift recipient, you can choose your gift right then or wait until weeks or months later. The gift wizard will not allow you to mistakenly blow your skill increase on a capped or close-to-capped skill. The stat cap increase is cumulative with power scrolls, so you can't lose it by using a bigger stat cap power scroll.
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