During the game I've thought about a couple of possible situations that could justify having an impact for next games, like supporting the arts (being a patron, expressing approval of Blessed art), allowing the use of Elixir by Haven's Army and not recriminating against Chief Adam's use of Elixir, through the small trials with Miranda becoming known as a merciless/greedy/benevolent commander...
It'll probably be easier to see what changes directly in QW2 but I'll still hope for a reveal of what each letter does once the game is out.