Blizzard has recently cracked down on E-bayer's, but other games actually encourage selling virtual property for real money.
Project Entropoa has sold a virtual island for the largest amount in online gaming history.
$26,500!!! 
Discuss it
here.
On the other end
Anarcy Online is now letting new subscribers play for free! Free download and ZERO monthly fees. You only have a month to sign up to get a free acount. Discuss it
here.
The World of Warcraft European beta has entered the final stages. As localization concludes, the final beta will start in late December or early January. The game is slated for release in the first quarter of 2005.
Lineage 2 has released Chronicle 2. The free 500MB add-on adds new continents, raid mobs and
tons of other updates.