256MB is plenty. MMOPRG's do tend to use loads but thats because they can. The genre has wored fairly well on last gen consoles, so there is no reason why they can't be as good as on the PC. I'm not saying it would be easy, but it would certainly be possible.
Well, quite frankly I don't think so, at least not in the format as they are on PC's. In WoW for example at can have ridiculous amounts of abilities, often 20-30 or more all of which you need instant access to in order to play the game properly (Ie a seperate key binding) . It would have to be in a different format for it to work, or they'd have to come up with some kind of solution which would be quite difficult, I've never seen it pulled off before. Every MMO type game on consoles that I have played has had some kind of lousy system where you can only bind 4 or so abilities at once.
Also regarding this MMO apparently it's going to be announced on May the 19th? Not sure if that's true, I've only heard it reported from a single game news site.
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