"It would only take you a minute or two of talking to Dave Brevik to have you hands down convinced that he's the right man to make a Marvel Universe MMO. Not only do his credits include a little game you might have heard of called, Diablo, but he's also a huge comic book nerd and totally loves Marvel.
It seems like he's got some interesting things afoot for the Avengers, X-Men, Heroes for Hire, and of course the Great Lake Avengers (That's Squirrel Girl's team). But how will the MMO function with everyone running around as their favorite character? And will this just be another World of Warcraft or EverQuest?"
-Blake Morse, Game Revolution

A first Screenshot of Iron Man from Marvel Universe Online - site already translated in english
SOE likes Marvel more and wanted to do this before DCU Online. They couldn't reach an agreement with the license though. Unless Blizzard is handling this one...I don't expect much. DCUO is awesome!

The top picks for the most highly anticipated free to play massively multiplayer online role-playing games (MMORPGs) that are scheduled to be launched next year in 2012.
I don't think Marvel Universe as a browser game would be better than DC Universe or even Champions Online, but I will still keep an eye on it.

GamerFitNation Writes: "Today it was revealed that the action-packed Super Hero Squad Onlinewill be showcased during New York Comic-Con at the Marvel Entertainment booth #654. This free-to-play browser-based MMO allows the player to play as dozens of different Marvel Heroes, including theSuper Hero Squad versions of the day-walking vampire Blade and the master of mysticism, Dr. Strange."
NYCC looks like it is going to be a great time this year. Can't wait to hear more about Super Hero Squad Online. =)
I think it'll be amazing.
There's a Marvel Universe Game? AWESOME.
My guess:
Mostly instance based, so you can choose your Marvel character before entering the episode/instance/dungeon while keeping persistent stats.
Probably some sort of lobby, virtual or text, not sure. There would be a damper on who you could group up with if you were given a 3D avatar of a marvel guy in between instances.
Hasn't it been canceled 3 times now? And MS still has some exclusive rights to it so dont expect it on PS3...or has all this changed?
Ahhhhhhhh! A console f2p mmorpg -- and it's a Marvel! Awesome!!!! \o/