This may not be a very popular opinion, but i don't want E4 to be a MMO. Although i love Elite and MMOs, there are too many problems which are caused by the existence of other players, most notably time dilation.
I'd like to see it just like First Encounters, but with better graphics, more ships and equipment and a much more involved hand coded mission series. FE may not have done very well with the critics, but this is because it was released too early, not because it wasn't a good game. It's in my top 10 best games of all time, and i'm sure many people agree with me.
Although i'm sure E4 will attract many newcomers, i think it's safe to say (what with E1, F, FE being so old) that the main enthusiasts will be older players. Older players just don't have as much time to grind as kids do, and as much as MMOs like to make out they don't encourage grinding, there is always an advantage to being able to play for hours on end without having to interact with life/kids/job etc. (unless you go for an EVE-like system which just didn't work, IMO).
If it is a MMO though, i have to agree with the above that customisation is very important. What helped make GW the worst MMO ever was the fact that everyone looked the same.
Its a very popular opinion in my opinion
What I think a lot of people dont realise about the Elite series is the wonderful lonliness/desolation of space. The contrast between vast empty space and semi-advanced intelligence such as humanity is a very compelling emotion. Its the same emotion that makes us long for some sort of contact with ET.
I think an online multiplayer Elite would ruin the fundamentals of what made this a smash hit series. All Elite players i have spoken to use the word imagination constantly when describing the pleasure from playing Elie/Frontier/FFE.
As I mentioned before; I'd like to see a Noctis-like database updating feature. So as I or you explore the Elite 4 universe we can update all other game players of new discoveries, events, trade opportunities, and new planetary systems can be mapped out according to pilot.
So for instance if you discover a new system with lots of mineral wealth potential; you can name the planet/planets, and thereafter the update, any players going to that planet to mine or whatever pay a small leasing fee of their earnings on that project. Its deducted from their credits automatically.
The game engine doesnt need to show all this happening in real time, and can randmly generate traffic with bogus names to mimick interest in the new place you discovered.
For instacne if you are Imperial then this new place becomes imperial turf, with BBS missions etc... All this can be updated and logically generated so we dont have to be playing at the same time.
I think this kind of daily updated universe would be way cooler than a online multiplayer Elite. So we can all effect eachothers game without being in eachothers faces. Kind of a daily modded update like they do for Linux kernels etc..
Also it doesnt matter how many players play because if we are talking about a Milky way with genuine 500 billion stars to explore then its never going to become all claimed. Or if there is a danger of that, then Andromeda can be generated and we have a whole new galaxy to explore. Same engine but just a new map. I am salivating already....
This game could go on and on and on.....as most Elite type players want in such a game. Infintie horizons - immortality is what we are all seeking!