This game was mentioned in The Last Story thread, but as I now have and have been playing Xenoblade a bit it needed it's own thread. To get it out of the way, Xenoblade is a european import (so all english obviously) that for whatever reason NOA refuses to put out here. To get it to play on an american Wii was rather simple and harmless, if anyone is interested I can link the stuff in here.
All that aside, I haven't gotten too far into the game yet but it's already hooked me pretty well. To start, it's an action-ish style rpg with combat similar to like White Knight Chronicles or FFXI...which does nothing for me in and of itself, but it works really well in this game. You'll usually have a "tank" style character that will grab enemies attention, and much of your time will be spent positioning yourself while the tank holds them to use your special abilties (with positional requirements).
Other than that, the other sort of MMO-ish qualities are tons of quests (which are completed on fulfilling the requirements instead of having to return to quest giver) and some named/rarer mobs that are quite a bit tougher than normal monsters. My first rush of excitement came from taking one of these down with the tank having died and me almost dead before delivering a final side-swipe. Oh, and the special mobs have more epic music too, which is quite fitting.
Finally, you have this puny little jump, and I was of course jumping like crazy cause it was kinda funny...and then I jumped over a ledge and was literally like and fell all the way down (luckily) into water...and swam to shore =O So yes, you can jump over ledges (and to your death if applicable) and yes you can swim, lol. More on the game as I get more into it =P