There was an article posted on Kotaku a couple days ago about some new terrain editing technology that was developed by Lionhead Studios in the UK for their (now canceled) Xbox 360 game, Milo & Kate.
Anyway, long story short, the technology looks like it can produce some pretty amazing results, allowing artists to create very large 3D environments that don't contain all the excessive repetition that we see in FFXIV's terrain.
You can read the full article here:
http://kotaku.com/#!5783474/the-gorgeous-tech-that-powered-milo--kate-makes-the-xbox-360-look-brand-new
Considering that repetitive terrain is one of the biggest problems with FFXIV currently (not to mention most of the other games SE has produced in the past five years), I think it would be highly beneficial for SE to consider either licensing Lionhead's technology, or developing something similar themselves for use in FFXIV and future games.
Here's some other links pertinent to the topic:
http://en.wikipedia.org/wiki/MegaTexture
http://miciwan.com/GDC2011/GDC2011_Mega_Meshes.pdf