EQNext is already a long time in development. BUT: They never ever said anything about a release or even alpha date, so no promises broken so far. It's a really ambitious game on many levels, doing things no MMO has done before. Combine that with the company troubles (no sony anymore) and it's only natural that the game needs a lot of time.
I am sceptical if they can pull off a fun game. I fear that it will be dumbed down with a meaningless death mechanism like most other modern MMOs. But at the same time they have some grand ideas and technologies, so i will wait and see.
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