I am in a small FC of just friends and let me tell you drama is not exclusive to the large ones. Our already tiny FC has busted up twice, with vital founding members transferring to other servers (or datacenters) and whoever was left limping on the best they could.

Hopefully, with Fellowships, we'll see the disenfranchized band together, nomad style instead of seeking FCs. Sure there's buffs and bonuses but essentially FCs are just an extra chanel and apartment--depending on how serious you are about crafting/subs. If they tweak the Fellowship system (like give us call letters and such) I can see a huge shift in Fellowships over FCs. Only time will tell however. I personally look forward to it.