In the MMORPG area there is today Darkfall which is kind of a spiritual successor to UO in many regards (full loot, anyone can kill you outside cities and so on) but in first and third person 3D. The original game had its issues though and is closed down since mid November because of the release of the now much hyped sequel Darkfall: Unholy Wars (a.k.a Darkfall 2.0), coincidentally coming out on Wednesday next week. It was also greentlit on steam in record time (like within 24h) so there's definitely craving for games like this out there.
Thank you. I was unaware of this. Darkfall did indeed conceptually pick up UO, but the times I tried it it was absolutely terrible (buggy, empty feeling world, terrible launch management by the developer/publisher) and I kinda wish it hadn't used the first person perspective. A neat idea- just terribly implementation by a pretty bad company.
edit: http://www.youtube.com/user/DarkfallOnline for anyone interested.