For those who say it'll become free to play, yes it will be, but those who own the game will get extra goodies that the free to play players will not. This occurred for games such as DC Universe and so on.
Plot:
The story takes place in the Star Wars fictional universe shortly after the establishment of a tenuous peace between the re-emergent Sith Empire and the Galactic Republic, 300 years after the events of the Star Wars: Knights of the Old Republic games, and more than 3,500 years before the events in the Star Wars films. The Jedi are held responsible for the success of the Sith during the devastating 28-year-long Great Galactic War (which led to the Treaty of Coruscant prior to the "cold war"), and thus choose to relocate from Coruscant to Tython, where the Jedi Order had initially been founded, to seek guidance from the Force. The Sith control Korriban, where they have re-established a Sith Academy. The game begins 10 years later as new conflicts arise.
A collaborative effort between BioWare, LucasArts, EA Games and Dark Horse Comics has resulted in webcomics entitled Star Wars: The Old Republic – Threat of Peace and Star Wars: The Old Republic – Blood of the Empire, the purpose of which is to establish the backstory as the game opens.
BioWare stated, prior to release, that the game would have a significant focus on the storyline. Each of the eight classes has a three act storyline that progresses as the character levels up.
This is going free to play