The game is hardly dead.
I was one of the initial subscribers to this game when it was released.
It was a fun experience, and the story involvement is like no other MMO out there.
The problem was that it got very boring when you reached a certain level, and there was nothing to do.
Just last weekend I returned to see if anything had changed since leaving the game last year.
Thankfully the planets are a lot more busier due to servers being upgraded to a larger capacity, and the fact you can free-play all the way until level 50 is great if you only want to play an hour or 2 casually per week.
I suggest anyone would liked the KOTOR games to check this out.
You can play it like a single player RPG if you want, and the story itself and customization is just as good as the past games.
The next couple of weekends are double EXP as well, so it's a good time to try the game or return.
The great thing as well, is that unlike WoW, you DO NOT NEED TO GRIND in order to progress.
You could quite happily stick to the single player quests and progress very well in terms of EXP and levels.
Would I subscribe to the game again though? I'm not sure. There are some good benefits, but I think it's only worth while if you were to be playing very regularly per week, and I just don't have the time anymore.