I recently replayed about the original KOTOR for ~20 hours and the end result made me want to resub. After playing both games back to back they feel surprisingly similar.
I have a meager level 26 scoundrel (Gunslinger) named DayVeeJones on the Jedi Covenant server if anyone from GAF is around.
We recently interviewed game director James Ohlen, asked him about potential KOTOR 3. Looks like they have no plans for it. Basically "online is the future", "we give you 8 sequels in a way with SWTOR", "SWTOR is 10+ times ME", etc. I didn't sub yet, but might bite sooner than later.
He avoided the F2P question, of course.