If this game had come out six or seven years ago, xBlazeUK (the 15-year-old creator) would be a very rich programmer. Fantasy Online is a flash-based MMO that has the quaint look of a classic Final Fantasy or Zelda game, but incorporates more than a few elements of World of Warcraft. There is equipment to be had, currency to earn, and quests to complete. The quest givers have an exclamation point over their head which switches to a question mark when the quest is complete. You earn levels and delegate skill points as you see fit. It's really an amazing piece of work. 

The beta is going on right now, and, as of today, you can be a part of it. No word on when the game will actually be released, but you can check it out here for free (donations accepted). The only improvement I would advise is a change to the somewhat generic title -- it might as well be called "Sword Game".