If you aren’t following the official Ultima Online Facebook page, and how can you not be, you might have missed this from a few hours ago.
Dear Ultima Online, apart from the great lore you guys have, will we see any upgrade graphics system? apart from the 3rd person, 2d-3d perspective?
The official answer:
Well we are working on some updates to the graphics this year. It’s one of our priorities. A bit more details soon :) As in the doc is written, need to clean it up for public consumption :)
If they are that close to releasing details about it, that might explain the large amount of off-camera discussion that went on during the UO Video House of Commons when it was brought up.