So it's just like regular morrowind, construction set, armor, weapons, etc. expect it is multi-player. Not like MMO, but like 2-8 friends all playing in a world together. So you choose you character like you normally would, get money and such, but you could run into your friend playing in the same world as you. So you'd all have to create players together, but didn't have to play together or alone. You could all gather on a weekend to play, or accidentally run into other playing regularly.
Other points of interest could be a bigger world, not more cities/towns/castles, but more regular space. I known that it probably wouldn't do damage to the game to make it brighter, as in not dark and gloomy. And instead of a world in peril, why not just a world that could be made better (by a 'good' character) or be nearly destroyed (by an evil character).
Imagine how fun it would be to get a band of friends together to make a pack of blood-thirsty orcs, or creating a mages guild, with construction set, for your friends.
-Moe, the Hobo