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I'm a huge fan of things dealing with feudal Japan, so I thought I'd see what I could find in the way of MMORPGs dealing with the topic. Of course there's Tatsumaki, which I keep an eye for, but its still in developmental stages. I came across a game though that's out and is actually quite fun all things considered. Its called Blade Chronicle - Samurai Online.
I'm going to start this out by saying that everything is in Japanese. I don't read Japanese yet, but that doesn't hinder me from enjoying my experience. I'm sure, however, it would be more fun since I have only come across a couple people that speak broken English. The game seems to have been released to open beta in the past month or so, and it will be a free to play game with a cash shop. If you're looking for a p2p, this isn't it.
The combat is pretty neat. When you draw your sword, it actually shows the animation of proper iato, as is the same when you put it away. Its not like WoW where one second the sword is on your back and the next it is in your hand. Also, there are a couple of methods in cutting. Clicking the left mouse button and moving the mouse in the cardinal directions allows you to chain slices together. If that is a pain in the neck, the letters I,J,K,L also allow you to slice in the up, left, down, and right directions respectively. You can also dodge attacks by watching your opponent and double tapping the WASD keys in whatever direction you would like to move. You can also click to move.
Since I do not read Japanese, I do not know what the menus and such mean but I read on a wiki, (http://bladechronicle.wikidot.com/), that skill progression is done by using your weapon, not by buying skills from a vendor. I'm a low level, around seven or so, and through the usage of my sword I have gained a couple new skills. Pretty interesting to me.
The graphics are nice in my opinion. All of the settings are either of Japanese cities or countryside so far, but they are well done and do not look like a carbon copy of everything else that's out. Not ground breaking, but nice. When you make your character, you can choose from various hair styles and features. If you change an option and the option turns red, however, that means you are choosing a cash shop option. At least I think so. I just stick with the white options, if you understand my meaning. You can also change the voice sounds.
All in all, if you can muddle yourself through a language you do not understand (or if you do indeed understand Japanese), and are looking for a new game then I would give this one a try. Its free, the combat is different, and I could use some people that speak English to play with. My name is Onikudaki on the Murasame realm. There are screen shots in the wiki, and I will link the website. If you need help with how to create an account and whatever, look at the wiki or send me a pm.
Note: I edited the title so as to give an idea of the game genre.