This has pretty much became the second coming of Ultima On Line (UOL). I backed early at the $25 dollar level because it was touted as being like Ultima 7 but should have pulled my pledge at the end as the writing was on the wall that the main focus was going to be MMO. The nostalgia level for the UOL alumni was through the roof.
I still hope that you will be able to play the game in offline mode and if so then I will get my $$$ out of it but I'm not not really in to playing with a pile of strangers and getting killed by griefers for going in to the wrong area. Still I too am a bit choked by the bait & switch.