I dropped WoW a little while after GW2 came out (purchased day 1 but was still heavy into raiding so I didn't dive into GW2 until a month or 2 after) and that was some time ago. Lately however it has been hard for me to keep playing gw2 cause even the new content is mostly grindy stuff and the rewards have been pretty crappy. Worse, lately I have had a WoW itch I needed to scratch ( I miss the tanking days). I picked up SWOTR (played in open beta) and I generally had a blast with single player as I totally dig the indepth story line. Unfortunately SWOTR's %50 exp penalty for the f2p model can be really felt after level 15, and that is pretty bad when the game offers little alternatives to gaining levels aside from pvp and questing. I also found at least the first instances to be a joke. No mob control and you are best off running 4 dps and a dps with a heal. As if the XP penalty wasn't bad enough, you are limited to 3 final boss loots a week for dungeons (it gets worse in raids. I believe we get no loot from epic raids). Ater reading the forums it seems like Bioware fully intends the f2p model to be nothing more than an extended trial to get people to subscribe rather than make the game around a self sustaining non subscription based play. So I quickly dropped SWOTR close to level 20.
I DID however just picked up rift. I played rift in open beta and the starter zone was so unimpressive that it made me not consider rift all the way until now. The starter area still sucks but it is pretty easy to plow through it, you will be in and out in 20 minutes. How wrong I was. If you are looking for WoW that is free 2 play, rift is it. Rift is like WoW pre 3.0 with a beta version of Guildwars 2 event tech. The event tech which helps in quickly forming large groups for instanced and non instanced raids is very functional, but there is no hiding that it is just the game constantly playing with raid frames and not as seamless as GW2. Everything else however is very much like old WoW, bloated talent trees, Macros and hotkeys, maybe not quite as many equipment stats but just as many slots.
Rift also has the best free 2 play model. Although there are many locks in place that were once able to be unlocked if you bought the BOX version of the game (or its expansion, both of which are really hard to find now) that have been split up into the store and cost more money now. Rift has a number of things that are well priced in the store, but some things are really stupidly priced too. However if you have money to spend, it probably has the best loyalty system that rewards you with many things the more money you spend.