Will anybody who plays this game please comment? I'm interested, but it sounds pretty cutthroat...
I play EVE... And it is truly awesome.
It is not as "cutthroat" as it used to be in the years gone by (for example, you no longer are at risk of losing all your skills if you do get killed - you only lose at most a few weeks). However, losses do hit you harder than losses in other games (such as WoW).
It is also worth noting that things like theft and scams (within limits) are permitted in EVE. Some people fume at this when they end up on the wrong end... Personally, I enjoy this "rogue" aspect of the game.
The game is also very immersive, and has wonderful graphics.
As for negatives... One of the main is rampant ISK RMT. Population of Chinese farmers has increased immensely over the past year, and they are becoming really annoying (especially for some in-game professions, like trade). There is not much inflation just yet, but there are certainly plenty of people with farmed and purchased ISK in their wallets. CCP is trying to handle the problem, but it is understandably hard.
Even with all the negatives, EVE is a great game. It is also one of the very few MMO games you can play for free (you can pay for your game time with ISK - you need a lot of ISK, of course, but I have not paid a cent for playing EVE during the last year).