Man, I forgot all about this.
I loaded it up a few months back (maybe a year now?) but it didn't really grab me. But then, even the original didn't really grab me. I like the concept of the player-fuelled economy, although I'm not really that inclined to participate except as a consumer. It'll be interesting to see whether the devs can balance a low population player economy, especially considering that everyone is allowed to box at least one other character (and any crafter wanting to make a buck is probably going to ignore the character/account restrictions if they can, just as they would when SOE ran it).
Being not much of a producer, the combat in the game is kind of atrocious, especially compared to what's out these days, even in the free to play market (even if those tend to be "freemium" rather than "free").
Personally, I'm waiting for them to get around to implementing space stuff. That was also kind of basic at the time but I liked the idea of having to license for a type of ship and equip it like you would a character... with stuff that maybe you even made. I've said before that I'd love a modern space sim based around this premise. (Freelancer and Darkstar One had a little of it, but equipment slots in JTL were more extensive. A game focused on this premise would also be able to add more weight to the customization aspect, rather than simply plonking percent-modifiers into slots.)