tl;dr SWTOR will be a good video game but a lousy MMO.
That's pretty much what I'm thinking these days. When the game was announced, Knights of the Old Republic fans everywhere either rejoiced or, and more likely from my observations, wrung their hands in anger at the fact that there would be no KOTOR 3 just this MMO. But those KOTOR fans should now rejoice as it is looking clear that the game we will get is very much KOTOR 3. The MMO fans on the other hand should look forward to some hand wringing.
Every indication seems to point to an emphasis on the single-player experience. The focus is on story, you are typically strong enough to take on groups of enemies by yourself, you get an NPC partner to help you out, the space portion of the game is a rail shooter, etc.
So far I've heard naught about how players will interact with each other, save for being able to make a story line comment here and there if in a group. And that's only on the repeatable side quests that don't matter much to your overall story. No word on crafting and I'm not assuming there will be much beyond the item upgrade feature of the first two KOTOR games.
Now this lack of player interaction doesn't mean it will be a bad game, just that it will be a bad online game. From day one the devs of this project have been wetting themselves over talking about how wonderful you'll think the story is as you solo the whole game. As far as I can tell the most player interaction you'll have is seeing another player run by you when you're walking through a non-instanced area.
Sure I could be wrong, but so far I'm not. If I am I welcome anyone to come and point out to me the error of my admitted assumption. Until then I will hold the theory that SWTOR is a single-player game with a monthly subscription fee.
I suppose that's one way to get around piracy.