I like the model. I haven't played DDO in a long time, but I have four characters on one of the servers and I still own a bunch of content.
I've spent a decent amount of money on DDO; it is a good product. The advantage is that once somebody buys content they will always own it.
I can go back and play my stuff right now

It is a cool concept.
People are right about humans being good...the extra feat is GG. The game is really unfriendly to anybody who hasn't played D&D before and doesn't know the systems....
The official game forums are useful for ideas and how to guides. It is easy to gimp a character when taking levels in multiple classes or picking the wrong feat.