That thought alone initially put me off, but the more I think about it the more sense it makes, as if I'm not near my PC I can always pick up a table and still get my fix. I also won't be dissapointed I've spent doll-hairs on it as it's going to be F2P.
There will be PvP - Territory based, some player customization and a player driven economy so pretty much everything I enjoyed in UO and everything I really need with an MMO. The interesting thing about this title however, is the fact that there are no levels, nor skill points (UO'esk) but instead you will be defined by the items you wear on your avatar. It sounds a little weird to me, but there are going to be thousands of possible combinations, so that could be very interesting.
Granted it's not going to beat Skyrim in the graphic stakes, but could be a gem. Watch this space!