As I was playing Morrowind this morning, I realized that the reason I've become relatively bored with most MMORPG's is that, nowadays, they don't seem as immersive. This could be due to the fact that no MMO's nowadays have a continuing story line, but I feel that it's really the point of view in the game.

I understand that WoW and such have first person point of views, but those seemed to have been slapped on just so that Blizzard could say "We support first person views." So are there any recent MMO's that support a decent first person platform?