From what I remember when I started RoM, initially the cash shop was a convenience. You could definitely run end game, or at least nearly endgame content with dirty statted gear. It was tough, but possible. The problem with RoM is not the cash shop; the problem with RoM is that since the end of chapter 2 content has scaled according to heavy cash shop users, forcing players to pay more to keep up.
It's a double edged sword really: Keep content scaling to f2p standards (i.e. content can be cleared using quest gear & f2p statting options) and they'll keep the vast majority of your population happy, but possibly lose the big spenders because the game isn't challenging and they can't pay to be better than everybody else. The other extreme is to make the game p2w focused, make lots of money off the heavy cash shop users, and hope the f2p community doesn't leave out of frustration.
If FA's new game can figure out how to keep heavy cash shop spenders spending without making content that requires cash shop purchases to clear, they will have the perfect formula for a f2p game. I for one am interested to see what FA has learned from publishing RoM.
Actually the cash shop has little to do with FA. I don't know why people keep struggling under this concept that FA "created" the cash shop. As a publisher, what FA can actually "create" within the game localization is very very small. The cash shop is created by the developers, in RoM's case Runewaker and in Eligium's case Shanda (two unrelated companies). The items that are created for it and which are available within it are controlled by the developers. FA is only responsible for pricing these items in the local currency.
I guess I should be saying FI, not FA. The fact is, this game is not currently being published by our Frogster America division. It is being published by the Frogster Interactive headquarters based in Europe (means only EN (British), DE (German), FR (French), and Polish versions will be available. US residents are expected to play on the EN server atm). Personally, I love the way that EN Frogster handles their cash shop for RoM so I doubt there will be any problems.
On a side note, RoM is actually the first game I've ever played (out of many MMOs) that has a cash shop so necessary to game play. In every other game the cash shops have been for unneccessary vanity items. It seems that this new MMO will be setting it up that way as well, which is the more common system in my experience, so I'm not surprised at all.