sigh
Just to address some misunderstanding in the last couple of posts:
The Private Server will be 'feature complete' compared to the PU - but you probably won't see all systems / have the same experience, unless you have your own personal server cluster the same size as the one running the PU. CR talked about it in one of his videos that the private server will scale the number of systems, NPCs, etc to fit within the capabilities of the server it's run on
Rob addressed the issue of Private Server updates by saying it's not determined how it will be handled yet, but that they are aware of the issue of people using a private server to find hidden jump points etc that they then 'discover' in the PU. Possible measures to address this are:
Using a random seed to control the creation of the universe (so all jump points, system locations, etc are randomised every time
delaying release of systems, jump points, etc for private servers until after they have been discovered in the PU
other stuff
The PU will require a persistent internet connection - duh. However, the private server WILL NOT, nor will playing SQ42. However, Rob has suggested that if you play SQ42 completely offline, it may limit the transfer of data from the single player to your PU account. That said, and as with many things, it doesn't appear to be set in stone yet.
@Juicy if you play on a private server, you'll be playing with a different account than your PU one. So you won't need to worry about someone changing the rules on a private server, accruing billions of credits, and then rejoining the PU - can't happen.
CR and/or Rob (can't recall atm) has already stated that the game will be 'server authorative' - meaning that hacking the client to give yourself billions of credits shouldn't work either. Client side code will be present to reduce the effects of latency, but it will be checked / confirmed server side too
Think that's probably enough drive-by comments from me...