After getting sucked into Shenmue, I was looking forward to Shenmue II.  The U.S. Dreamcast release got canned, and I never imported it.  I did get a copy of the Xbox port.  It's supposed to have updated lighting from the DC version, but I wouldn't know personally.  I wasn't able to really get into the meat of the game, but I'm sure that it had more to do with life taking up my free time.  It's a shame, because I have a feeling that I could end up getting into it.
The MMORPG, from what I understand, was due out already, but was basically canned.  It was supposed to have been handed to a Korean code mill, where games go to die.  But, that's just what I've heard.  I wasn't all that interested in the MMORPG.