I hope they do not make an MMO. Since they've already ignored us and made The Force Unleashed, the least they can do is be sure to create an RPG. They probably want extra cash if they're truly considering an MMO format. Then again, if they wanted cash they'd had started making K3 a long time ago.
http://forums.obsidianent.com/index.php?showtopic=48932
According to this thread, a great majority of people want an RPG.
And about Bioware, quoting the good Jediphile:
Bioware is not working on K3 unless they are making a completely direct lie.