Jeff Strain at Games Convention 2007 [http://www.guildwars.com/events/tradeshows/gc2007/gcspeech.php]:
"Gamers will no longer buy the argument that every MMO requires a subscription fee to offset server and bandwidth costs. It's not true -- you know it, and they know it. Gamers may buy the argument that your MMO requires a subscription fee, if you can tell them what they are getting for their money. This is the legacy of games like Guild Wars, Maple Story, and Silkroad Online, all of which introduced new business models into the MMO genre and were quite successful. The subscription model is still perfectly viable, but the pain threshold is very low now. It's no secret that gamers don't want to pay a subscription fee. If you can convince them that your game offers enough value to justify it, more power to you! But be prepared to defend your decision, often and loudly, and back it up over the lifetime of your game."
-- Alex