I like games where you have lots of freedom on where to go. Don't like games that guide you from 1 location to the next, just following a road from level 1 to max.
Being able to play all classes on just 1 character is one of the things I realy liked in FFXI.
From the current MMO's I like the concept of Vangard the most, without the crappy engine, buggs and dead comunity ofc
Crafting should get some attention. Just pushing a button from a recipie you just learned at a trainer isn't much fun or challenging. Recipes should come from various places in various ways.