Unfortunately, Japanese RPGs are a no-go for me. I just can't stand their visual style, and FFXIV is no exception.
I've been watching this game a lot, and I would love to go with it. There are 2 problems that are troubling though:
1. As you said, you have to pay for a lot of content after certain point. I don't mind paying for content as long as it is optional... But since there is no free content past that mark and since they position the game as Free To Play, it just feels like money milking to me. If they officially said the game was F2P only in the mode of trial, then I would be OK with it. But as it stands, after being hurt so badly by SWTOR's "F2P" system, I don't want to repeat the experience.
2. It is a very instanced game. While I don't mind challenging instances, I would prefer, at least, some resemblance of an open world. This is doesn't have to necessarily be the case, but searching for a group for a long time might not be pleasant.
Anyway, I will give it a try eventually.