Exactly my thoughts Wedge.
Firstly, the main flaw with most RP systems is that their creator had hardly any knowledge in the field of economics. (This means they mostly try to mime something that they believe is the economy). Also, what makes most RPs lacking is the fact that there are hardly any random events that would add some spice. Think of the possibilities with having random disasters and such, where you would not only lose the things that you have built, but also some other wealth (money)
The "other wealth" category is my second point. In most RPs there are hardly anything to buy, besides weapons that encourages killing. There aren't too many RPs out there where you have to buy food to live, or just some other things that you could make your house nice, I'm thinking of vases, paintings, plants, special tools etc. that would make your home comfortable, cosy and also they would actuate people into a sort of mild competition about who can buy what kind of thing for what kind of price (the more expensive the item is, the more prestige it could convey).
Thirdly, tools are other "problems" as well. I mean, your tools never wear out, they always seem shiny and perfect, whereas in the real world you can easily break your tools or lose them, so that creates a demands for tools. What if your tools could wear out too? After a certain number of usage your hammer could lose its head (well, that would be the pretext), your wrench breaks and your printer run out of power. That would also open up more possibilities for those who wish to take earn a living on selling things.
Fourthly, concerning the story mode, I would say that there should be a non-linear really open story, that would give a background, just to make sure that people will play roles, not just shooting up people. I remember playing those "pretend" RPs they were much fun, because there was some sort of story that disallowed people from doing something unfitting to the whole game.
Lastly, it should be fun. The game shouldn't feel like the daily grind, we are not aiming for the re-creation of Second Life, rather something that fits more to the whole Blockland theme.
