I was finally able to turn my Priest into a High Priest. The transcendence / rebirth quest is standard for any job class. The only problem we encountered was in decreasing both our zeny and weight to zero. For the zeny, we simply bought blue gemstones and arrows until we had no zeny left. As for the weight, we were carrying two cards at the time. Because we couldn’t put them in Kafra Storage, we thought of just dropping the cards out of our inventory before talking to the Valkyrie and after transcending into a Novice High, we would simply pick them up. However, that wasn’t the case. After transcending into a Novice High, the Valkyrie promptly teleported us to our town of origin (Prontera), leaving the cards in Valhalla. 😦
We definitely recommend a fix to this transcendence / rebirth quest, specially if a player does not want to employ a dual client system and does not know of any players he/she can trust to hold items for. The experience that we had was definitely disappointing, but for the least part, we now know to hold off buying cards until after transcending.