Same combat as every other MMORPG. Dynamic events, not new. Custom storyline, been done I take this one back, it seems they put a lot more work into their custom storylines than other companies. Rewards for teamwork, not new. Sharing loot and exp, not new. Not next generation.
Still seems cool as hell.
More games should try to innovate their combat systems more, one of my favorite MMORPG's is DC Universe Online because the combat system is a mix of mouse click and keyboard combos where you can dodge and block attacks based on where they come from and your timing.