The hallmark of the MM series for me was always a good 4-5 person party with an epic world to explore in first-person. But, unfortunately, MM7 was pretty much the last game of that flavor that actually did well. I'm not positive but I believe MM8 underperformed, and I think Wizards and Warriors and Wizardy 8 also did worse than expected.

I think you have a better shot at a Might and Magic MMORPG than MMX. I think this would be a mistake however. Though the Might and Magic universe has plenty of information to build a MMORPG with, it's system isn't really conducive to the format. So it would be rewritten, and more changes would probably leave it feeling more like a generic fantasy MMORPG than a Might and Magic game. Also, the market would be well-saturated by the time Might and Magic Online came out. Meaning, the strength of the brand wouldn't be enough to get a huge following.

UbiSoft has some strong titles, but they've never really cracked the RPG or Online genres. In the online department, Myst:Uru never got going, and Shadowbane is very low on the totem pole. RPGwise, Beyond Good and Evil was probably their best one, but it's not good enough for me to forgive them for Pool of Radiance: Ruins of Myth Drannor.

Still, I think Ubi is probably the best hands the MM franchise could have landed in. So, despite being pessimistic about the odds of ever getting a true continuation of the Might and Magic role-playing series, I think we can count on some interesting uses of the IP.