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That would be great if you ever played Fable 2, the combat system is very fun and the rest you can do is great but I guess a game off that quality would be impossible to make as a MMO.
There are no new MMO coming that has any good quality because nobody try anything new, people need to understand that quality is not better by making them more real life looking.
Cartoonish look or Fable 2 like appeal to many to be great graphics.
But the combat and choice to make your character most unique is important, most important.
But I guess there are no good company that can bring any real good quality game to the MMO spot.
You got Oblivion, Fable 2, both very good singel player & co-op RPG games.
If just any game would bring some of the good quality in both those games and get something of their own in the end, it would be great.
But I think most people in this business think of money and easy ways and what they have.
And again if they focus on engines they focus on graphic engine that is completly wrong.