Certainly Funcom is known for their rocky starts. Having been in AO as my first 'beta', Hell of a proving grounds lol. However, with all of AO's problems I still played it longer than any other MMOG and consider it my all time favorite, even though it wasn't my first MMOG. AO had a really unique flavor and atmosphere, and a depth and complexity that no other MMOG has even approached (not even Eve).
I would add that their track record might change now that the former company lead is gone and this game is lead by the same guy who did The Longest Journey and Dreamfall. That alone gives me some hope for the title. I don't know if I'll preorder, but I damn sure am going to try the game out.
At the very least it will hold me over until GW2 comes out, which I personally think is going to hit sometime in the fall.