If this game went F2P, I'd probably quit. I don't think we could still get the amount of content we're used to as regularly as it comes out and maintain some level of fairness and decency in what's available in the cash shop.
If my character were somehow deleted, I'd also probably quit- I've been playing since about 2.4, and I don't think I could go through all those quests and all that leveling a second time.