I've read a lot about this thread on other forums. I am rather glad to see that so many people have had the same idea that I had. With a little bit of research I came up with an MMOG engine that might suit us very well. You can read more about it at
http://www.Multiverse.net. So far all I have managed to really do is to use their service for some of the games. The engine is certainly capable of Uru quality graphics. Better yet, Multiverse seems to pride itself on "lowering the barriers of entry" for MMOG with the intent of getting new ideas into the MMOG scene. Uru may just be the idea it needs. Best of all, it is free to use. Since we are designing the game, we set the price. Multiverse is banking on the idea that once a game becomes popular enough, the developers will want to charge for it.
http://www.multiverse.net/Again, I don't know much about the development tools yet, but there is a Wiki devoted to it. I'm sure with some digging we can find a way to import Blender/Python worlds onto the Multiverse platform. This, I think would give us quite a boat load of content to start 'Uru Two' off with.