So basically it's WoW, except it's free.
Of course there are the similarities such as instancing, parties, professions, questing etc.
There are some key differences:
Player housing - you can store all of your stuff here
Aggregator - this is an item which allows the player to use the visage of one item, and apply it to another. An example being that if you are a mage, and the class uses a staff weapon, you can use the graphic of a warrior sword and apply it to that 2 handed staff, giving the impression you are a mage with a 2 handed sword. The same applies for armor, so you could appear to be a clothie sporting plate armor etc.
Guild Castle - provides same service, though at the highest level you can construct buildings which can give stat bonuses to guild members among other things.
PVP - now with battlegrounds . You can also do 1 vs 1 arenas in addition to the norm 3vs3 etc.
1v1 sampler..
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Dual classes - Much like the final fantasy online system where a player can have 2 classes and switch back and forth between primary and secondary. The game classes are very much like WoW's, so if you've ever wondered what it would be like to combine a Rogue with a Warrior, and be able to spam sinister strike with a 2 handed weapon etc, you can do that in this game.
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ExpansionRoM just released a expansion today - Inclusive in this expansion is a raised level cap, new race of Elves, and 2 new classes of Warden and Druid.
Not sure about the Druid, but Warden is like a warrior with pets.
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Of course if it sounds too good to be true in regards to being free2play, thats not necessarily the case. They make their money off of Cash Shop process, which can be totally avoided throughout the game. The utility of the Cash Shop is functions like buying mounts, experience potions, buying dye to change the color of your armor etcs. Not necessary functions, but more about aesthetics, and expediting some of your leveling processes etc.
The currency for Cash Shop - Diamonds, can be obtained by farming gold then purchasing them, so the items in the Cash Shop are accessible via exchange system.
At any rate, if theres interest to get a wolvie gathering started for this, the best U.S. server is Artemis, which some of us had previously started characters on.