Check out this game, a MMO build on the Torque Game Engine. It will have a purchase price but no monthly fee and people can host their own servers and there is a Single Player mode.
http://www.prairiegames.com/ You can download the free demo, I have and so far it is really surprisingly full featured for such a small operation. There are some very innovative features here too that really haven't been done before.
The models need a bit of work, some things are kind of weird like no strafing animation and your feet when running seem to move slower than the ground giving you a sliding around feeling.
Though I have only played around for about 10 minutes I can see a lot of potential in this project, but at the same time can see how it can run into some pitfalls.