I vote manual char creation myself. The Gypsy virtue questions served a purpose because it was weaved in as part of the "Avatar's" story. Starting stats by way of "virtues" which only really applied to Ultima IV. In the later Ultimas, they just continued with the gypsy virtue system.
If doing it just to do it, it might not make any sense as to why you are being quizzed unless you tie it in to the char's backstory. (The angle of death quizzing the female if being played before being resurrected and a judge quizzing the male if being played before being pardoned)
Also, they would have to be separate quizzes for both chars because I know I won't want the same exact starting stats for both chars.
I know in Ultima 6 some people thought it was confusing as you stepped through a moongate from Earth and then saw the gypsy, then magically woke up in Britania in the clutches of the Gargoyles. So it was like "Wait, where the hell did the gypsy come in?"
Lastly, it would be a little annoying because I would just be "Twinking" my char through the system (answering the questions based on what stats I get, not based how I would actually answer the questions.) So for me it would take the whole point of "quizzing 4 stats" out.
And on that note, just in case the guy(s) in charge of inventory system get any bright ideas, please NO Ultima style bag inventory!
-Thanks