Ringo Flinthammer over at http://www.flinthammer.org/ asked;
"Despite a well-publicized dip in subscriber numbers, most WoW players have stuck around. But those folks didn't leave for no reason, so what keeps you coming back and still playing?
Is it the friends? The new content? Old content still to explore? Alts? PvP? Roleplaying?"
The easy answer is 'the friends' of course. This game has always been about the people you meet for me as much as the game world. Its what made it so easy to conjure up a character and Roleplay in it, to find the will to face the soulcrushing raid grind.
I do love leveling new characters or did. Azeroth doesn't feel as unique or cool any more with the Cataclysm and that ruined my leveling experience. Well mostly Blue side but ya know its affected how I look at the Red too.
No raid team so I don't think Ill be raiding any time toon other than the occasional solo MC or karazhan run. Dungeon running/Pugging is so horrid it drove me to blog to let out my frustrations and share the stupid stories (Wait I guess that means something good came from Fail PuGs..wow).
So that leaves the RP, and Blizzard has long had a policy of not supporting RP in their game thats starting to make that harder.