Usually the limits are in place for two reasons, one, so that the player base doesn't level uber fast and you have to work like a mad thing to add content for their game-thirsty minds and two so the game servers don't phizzle out on you because everyone is still logged onto your game!!!
But thats your call.
I'm a sucker for a good story line, give your universe some history and perhaps thread a little of it throughout the game so your vision unfolds into the minds of your audience. That to me is far more important that graphics anyday. But thats just me. Its still nice to view something pleasent and appealing over same old same old.
I wish you good luck
