If the "free" to play conversion was properly done, it would be extremely profitable for EA-Mythic. I only played Lord of the Rings Online until about level 8, but will say Turbine did a great job with that game. Even the pre-"f2p" players are satisfied.
For example, you must buy good mounts, 2-3 classes, and most expansion zone use rights through the online store. According to players on their official forums, one can play the game to max level and have all but the top tier gear without paying one penny. The mounts sold in store are much better than the mounts you can buy with the game currency and the purchasable quest zones let you reach max level in 1/3rd of the time it takes free players.
If we translate their changes into things relevant towards DAoC, classic through ToA would be free (except to attend a ML10 raid or wear gear from ML10) while access to Catacombs, Darkness Rising, and the minotaur expansions would cost about $10 each per account. No access to Catacombs/DR/Minotaur = you can't buy aurulite gear for your alts (the battlegrounds quests are fine, but the merchants would be removed), you can't talk to the king to gain your CL levels, and you can't enter the Lab or wear a mythirian.
Some expansion classes would cost money to access - around $10 each per account. And the same applies to any kind of mount better than the level 10 quest mount, but Mythic would have to remove realm speed buffs and NPC hasteners from the game.
An in game store would sell one time use potions that double xp, rp, or crafting skill gains for a small fee. Cosmetic only items are usually available in these in games stores too and they usually make the company a lot of money. I briefly played Runes of Magic (a buggy WoW knockoff) and was astounded how many people bought the cosmetic wings at a cost of $10-25 per character.
Games with so-called cash shops usually have some type of armour and weapon enhancement options to keep max level players paying money - these can be as simple as adding what equals +10 con/dex/etc or +2% melee damage on top of the existing stat caps. It's also a safe bet that hardcore RvR players would buy lots of RP and BP bonus potions to maximize their gains.
Following the Lord of the Rings Online example, players who already purchased the expansion packs would retain full access rights to everything involved with the expansions. If you purchased all of the expansions, you would receive a decent monthly stipend of the in game story currency - Lord of the Rings Online does this for people who originally purchased the so-called Lifetime package (about $200, which is less than what we paid for all of DAoC's expansions).
Anyway, I hope to have clarified a few things to readers who are not familiar with "free" to play games. Nothing is free about them - many people end up spending
more money per month than they do for a flat subscription fee. I've chatted in game and on forums with very addicted players who spent anything from $400 to $5,000 per month on games like Runes of Magic or Lord of the Rings Online. Mythic would make far far less from the average player, but many newbies are willing to buy $10-20 worth of in game tokens in the 1-2 weeks they play the game - I did it myself to buy a mount in Lord of the Rings Online for a character that never passed level 8. And that is the entire point of the "f2p" business model - attract 500.000 people (per year) who will only play your game for 1-2 months and expect 40% of them spend $15 on your game, which will gross you a cool $3.000.000,00 Compare that to the estimated $2.518.320,00 ([3.500 peak population * 4 (estimate calculation given by Mythic themselves)] * 14.99 * 12 months) Mythic grosses per year.
In reality, the number of attracted players would be much higher - Runes of Magic is a terribly buggy game that literally costs you hundreds of dollars per year to gear up and keep your gear current, but ~250 million accounts have been created in the US and Europe (the game is developed in Taiwan and operates under a different names in Asian countries). If only 10% of all accounts created have only spent $10 on the game, that is a gross of $250.000.000,00 since the US & EU servers opened in 2009.
edit: just realized that my method of writing numbers might confuse non-European readers. $3.00.00,00 = $3 million dollars and 0 cents.
-----signature-----
I'd become an American citizen if I could vote for Ron Paul as president of the USA in 2012
Uncompromised principle and integrity
http://www.youtube.com/watch?v=njwXVZ2N_Xg
http://www.youtube.com/watch?v=FqAF-Alc7CM