Can someone explain a bit more about how NMS/HMNMS/BCBSNMS/etc are different from the monsters that are in treasure chests? It sounds similar to me except the monsters can only be fought by the treasure hunt party even though others can see it as they pass by. And you always get loot from these.

I will agree that some FATEs are not exactly memorable... but some are challenging. I've seen countless people die to Stereopes, Gorgimera, and that Lazy Larry #$^*! out in East Shroud. Stereopes in particular... when his health refills, it's a sad sad thing. Behemoth and Odin... I could swear they used to be more difficult. I've got screenshots of a field full of dead characters. xD Kind of wish we had more like this.

I've heard about the ferry thing from XI players, that's the only thing I've heard of thus far that sounds like a fun side adventure to do.