A Mass Effect MMO just doesn't make sense since the first Mass Effect isn't even out. I don't think Bioware would have risked the money on a new property MMO even before EA bought them. EA sure as hell wouldn't do anything risky. They just recycle crap. Star Wars is a proven property, and although SWG tanked, that is more the SOE reamjob instead of any lack of interest in a galaxy far, far away.
Frankly I really hope it happens. Just as long as it is on PC. It would give me a good reason to build a new one anyway.
"Return with Honor."-Saberwing motto.