In FFXI you could have multiple characters just like in FFXIV. If you just canceled the Content ID, the character was still there just unplayable. Once you reactivated the ID you could play it again. However, if you deleted the character it was gone*.
I would assume that FFXI would be the same way.
*I know of people who had deleted their characters and quit the game, only to have FFXI reinstate them later. Not sure what requirements they have for allowing that, but it has happened.
Edited, Nov 3rd 2010 2:44pm by AshlarThePaladin