So what's the scoop?  I want to try this if it's free, but I'm reluctant to put too much time into something that's just shutting down in a couple of months anyways.  Anyone know if there is any chance they'll keep this going now that it's free?

Unless there was something I did not hear about, I believe it will be shut-down for good sometime in Janurary. There is a small chance another company might pick this game up but I would not put to much faith in that idea. It has happened in the past with other games (Ryzom comes to mind since I recently went back to playing) but with the way the financial markets are the chances are probably slightly lower. If you have nothing else to play you should check out Ryzom, since it is free to play until the company that took over gets their payment plan in order (which should be at the beginning of next year).