I'm actually looking forward to this game. It is going to be like Guild Wars on the non-subscription model. Buy the game, but have no monthly fees.
It's an action MMO, as it actually requires you to dodge/defend while fighting. They also have very limited amount of abilities one character would use, since it is based on the 4th edition D&D rules, not my favorite set of rules, but easily transferred to video game.
I really liked what they showed at E3, and really cannot wait to give this one a try. DDO just got too much pay to win for me.