From what I understand, Bethesda, the designers behind the stellar elder scrolls games will not be developing the Elder Scrolls online. I can definitely understand why this would turn off a bunch of loyal fans. But there is evidence in the past of big franchises getting handed over to new studios and having success (like Metroid Prime or Halo 4). So, will your love of the universe override your skepticism or will you decide to pass? Personally, I'm willing to give it a try, if for no other reason than to see all of these famous land masses tied together.
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I just started SWTOR again, after giving up on it after launch. I love it! I'm having a blast.
It is said you can switch between first person and third person. I don't know whether it's going to have a monthly-pay model or a one-time-pay model. But I don't think it will be free-to-play.