Frann,
The lure of making a MMO is a temptation that I (and probably quite a few of us here) get from time to time. There’s a whole pile of technology needed (in addition to 3D graphics) - Things that aren’t immediately obvious include scaleability - You can’t check every polygon in the world to see if it in view and needs rendering. Similarly you can’t check collisions of every object against every other object in the world (clear that scales as the square of the number of objects). Then there’s network bandwidth - you can’t send the entire world state every frame, so you need to determine whats local and just send that at an appropriate rate. Network lag is a problem - you have to estimate the movement of all the world objects from the last known position and velocity. Ideally you need to make players start and stop smoothly so as to avoid jerkiness.
There’s the problem of server scaleability for an MMO; somehow you need to split players across servers, either real world geographically, or by game area (or both). If you split by game area, there needs to be hand over logic as you jump from one server to another.
Then there’s the level design - tricky as different players are at different levels, you need to have areas for different ability levels and have a storyline that migrates players through the areas. There’s a lot of level design so you need good tools - there’s as much if not more work in those, as in the game engine itself. I really suck at gameplay. A good level designer is a must.
Then you need graphic and sound - piles and piles of art, including 3D modelling (Also an area of personal suckiness).
So all in all there’s a whole stack of stuff that needs managing. And unless its an open source project with enough seed design to get people to contribute for free, I can’t see how you are going to get all of this for what is effectively pocket money. The kind of skills needed are probably owned by people earning good money.
If you are still keen, after knowing all this, then go for it - You may succeed, but don’t worry if it all falls over