Vindictus is a free MMORPG created by Valve (Half Life, Left 4 Dead), and is hosted by Nexon (Combat Arms, Maplestory). The game's main attraction is incredible physics gameplay using the Source engine. It's centered around the ancient Roman ages, and as such is heavily melee based. I haven't played it yet, but I am downloading it. It seems simliar to D&D Online, with emphasis on random instance dungeons and party teamplay.
You will be able to color and create your own armor according to the makers of the game, meaning you can look unique even with the best gear (Trigger).
For free it's worth a try, and if it's made by Valve, a high quality game producer, using the same physics engine as Portal, then I'm sure it can't be BAD. I'll give it a proper review after I've played it a bit.