It was interesting seeing them talk about it with the gamespy guy earlier. They're apparently scripting 100s of hours worth of story progression, not just for each of the 8 individual classes, but for separate branches of each of the 8 classes. And they plan to somehow tie character progression in with that story progression. They made it sound like you would get more powerful by progressing within your own story, rather than only through endless hours of filling your quest log and grinding away (which, let's face it, that's what major MMOs are about right now - max your level that way and then raid...).
I'll have to see it implemented to really be able to give an opinion on it, but it's certainly ballsy.