I need some explanations here but I'm confused on how the licencing of the Star Wars franchise works. LucasArts is NOT the owner of the franchise rights? If they are, wouldn't they refuse to give rights to Bioware to create a Star Wars MMO so that Galaxies wouldn't die?
As for the game itself, if the rumor is indeed true, it will be nothing but amazing! KOTOR is a masterpiece and a good MMO set in this universe will most likely because the #1 MMO out there. That's assuming the game is "good", obviously. Past MMOs have shown us that being based on a popular universe is not enough to keep people's interest: Galaxies, D&D, Lord of the Rings, Shadowrun. all those games were terrible or just not enough to get off the shadow of WoW.
I've played WoW for the past 2 years but a good Star Wars MMO is just the thing I need to get rid of that addiction! Of course, a new (and possibly more dangerous) one will replace it...