Planetside Universe has a lot of information on it, and one of the best things to look for are the screenshots of all the magriders customization. It shows off all the different "looks" that you might be able to buy, which makes me really hopeful that they can pull off f2p without selling power.
I have to disagree with Schadenfroh, it doesn't look like they have given up hope, just gone for a different model. Planetside needs huge populations for the game to be good. All of the people who don't buy anything are still there to make the game good for the people who are paying. The devs seem to understand that the free players are a good thing for their game, and chasing them off by selling more powerful weapons would make the game suck for everyone. The free players would quit because the paying players have all the good stuff, and then the paying players would quit because there was no one left to shoot.
Of course, this all depends on having enough people who are willing to pay for what they are selling, having enough stuff people want to buy, and SOE not screwing this up in the future. It could fail, but I like what I have seen, and if nothing else, it will be free to try it out.