According to the insert included in our copy of the game, online pass owners (read: those who purchase new copies of the game) will get access to "seven additional player quests" throughout the House of Valor faction questline. It's unclear whether the PlayStation 3 and PC versions of the game contain the same stipulation, but we've reached out to EA for clarification.
Update: 38 Studios community manager "Muse" posted the following statement to the 38 Studios forums, as pointed out in our comments section: "We wanted to post a quick clarification for something we've seen a few comments about. For what it's worth, the House of Valor content was not in the finished game/disc at one point, then removed. It isn't there and we're locking you out of it. The House of Valor was created as stand-alone content, and was always intended to be the first DLC. Instead of holding onto it and charging for it later, we opted to give it to everyone who purchases the game new, for free, on launch day. We hope that helps clarify that point, at least."
Update 2: EA issued this response to Joystiq this afternoon: "The House of Valor quest line is free bonus content available to those who purchase a new copy of Kingdom of Amalur: Reckoning for the Xbox 360 and PS3 by entering the Online Pass included with the game. PC players who purchase Reckoning at one of the many digital retailers online including Origin, Steam and more, will also receive the House of Valor quest line at no cost."