Via MMO crunch, Pirates of the Burning Sea is gearing up to go FtP. A bit of research reveals that PotBS is not nearly as mainstream in it's design as other recent sub-based games to make the switch, less so than even DDO. In fact, according to reviews, it plays a lot like a EVE Online with a pirate theme. Not a game I'd be willing to try if the purchase of a client was involved, but for free? Yeah sure. Why not? It will be really interesting to see how they decide to monetize the game. PoTBS is also targeted at a somewhat niche audience (the Pirate Sim crowd?), which could work for or against it competing against LoTRO and EQ2X.
I personally hope that it does well because I have the attention span of a humming bird (at least by MMO gaming standards). The more full featured MMOs I can mess around with that don't require an entry fee, the better from where I stand. Regardless, it looks to be a really unique entry into the FtP MMO market.
Edit: Ethic over at KTR, My moment of zen, and Jaydub over at Dub's Diatribe all also have posts up. It also occurs to be that PoTBS is a SOE game. Does this mean that EQ2X is doing well?