I really think its going to be based on how many subs they can manage. I know alot of people have come back with this last patch, but nowhere near the numbers of launch. The timeline looks pretty ambitious to be sure. So far it's a tough sell for folks already due to their previous experiences. I'd be curious to see what their expected turnover rate is, because I can honestly say that most people who have continued to play from launch will probably sub over. The folks who didn't stick with it, even when it was free to play, won't be subbing anytime soon if at all. I'm not really sure everyone who came back for this patch will stick around unless content continues to come fast. I really hope they have a realistic expectation of subscription adoption, cause if its not, all the pretty spreadsheets aren't worth a hill 'o beans.
The plus side is if it really is Luminous Engine they're porting over to, it means the transfer of assets will be extremely scalable for PS3. The question is how much of these assets are new builds. Its easy to build from pre-existing content, but if they're planning all this original art, models, etc. even a 2 year span (Jan '11-Jan'13) is really pushing it on top of revamped mechanics, maps, etc. But who knows, I've heard their new engine is pretty boss and head and shoulders above Crystal Tools. If its a solid toolkit, turning out new assets and generating new ones may not be so time consuming. My biggest concern is them completely revamping their server structure. Don't get me wrong, its needed badly, but that kind of networking is stuff we see in Western MMOs and SE hasn't exactly showed expertise in that field. You can have the best art design, UI and gameplay in the world, but if people have connectivity issues, you're fucked. As it stands, we're still fighting latency.
Another concern/dissappoinment is the return to zone based maps. I find it really hard to believe they still can't accomplish a seamless world with high fidelity in this age. I'm sure they have their reasoning (which may be a limitation of the console) but its still disheartening. Plus, this whole thing is more than a year away. The industry expectation can change dramatically in that time. Granted, we don't really have much in the way of innovation in the new games on the horizon, but as WoW turned the genre on its ear, maybe there's something waiting in the wings that will upset the balance. As it stands, FFXIV 2.0 looks like a realization of what the game should have been at launch. Even if it manages that goal, by modern standards it's already dated by two years. It will be interesting to follow this as it develops.