Very interesting idea; I'll be there for the opening if my D&D session doesn't overlap it. I do have some Qs:

About how long will you initially run the server? An hour or two?

How often will the level be updated? Every so many roasts? (I hope you can stand updating the live game for concurrent hours.)

Can you give us an idea on how much items will cost, or how long it will take to obtain them?

Can your possesions be affected while you are not playing in the server? If so, I think the "rent" will be negligible, compared to losing all your stuff to fires and nukes and such...

The forced challenge is pretty evil, which is ok. However, will it be just as easy to lose rare and expensive items (such as your own house) as it is to lose petty items? If so, this would detract from the pursuit of rare items, at least in my opinion.

What would you consider the main objective of this game? I would assume it is to maintain as much wealth as possible.