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Most of my experiences with Computer RPGs are from the overhead isometric perspective. My first MMO had this as well.
The next MMO I played was EQ. I felt something was lost in the transition. Sure, the game looked good, it was first/third person, but the RPG element was lost on me. At the time, I attributed as being that the isometric view lends itself better to the RPG setting.
Part of me still believes this as I have not been able to find an MMO matched in immersion as UO.
Does anyone else feel this? Was moving the camera enough to break the immersion? Should we go back? Has the genre become too close to the FPS one?