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With every game that has come out recently, (AoC, WAR, now Aion) i have the extremely high and pretty unrealistic hopes that it will be a WoW killer. So far nothing has, and Aion probably will not either, but I can still hope that it will. In the experiences in both WAR and AoC, I determined that AoC had a better chance. AoC is a well put together game that I still play but it seems to be lacking in two giant categories; its pvp has serious issues which leads to almost nobody pvping on pve servers and its population is relatively low giving people not a lot to do during the afternoon.
My hopes for Aion is that will all this hype it will draw a large chunk of the WoW population away and be a solid enough game that it is able to keep most of the people. My biggest fear, having not played it at all, is that the flying aspect will be a gimmick the game centers upon. Once people get tired of flying around they will put the game away and go back to whatever MMO they had been playing. I just hope that this is not the case and it is a solid game at release (with some bug which is inevitable) and is able to keep a high population. While nothing will kill WoW maybe this game will actually be able to succeed in whittling away at WoW's population because the MMO population needs a better choice of games to choose from with large populations.