As far as SWTOR is concerned, that game is still on a downward slope. Just as an advance warning, don't be shocked if that game dies.
As far as LOTRO is concerned, if an SWTOR version of F2P/Premium/VIP was implemented, there would be pretty much no Premium. Almost nothing is given to Premiums, so what's the point in even having a Premium status?
And yes, I have been VIP for both SWTOR and LOTRO. Been VIP for LOTRO for a long time. Quit VIP for SWTOR very quickly as that game strangled my friends who could not afford VIP (and even with VIP the game is pretty horrible). Now we don't play it at all.
That game isn't even a true F2P game. You can't get to level-cap without purchasing the content. Purchasing the content to play the content is obvious. But being incapable of reaching level-cap without paying means that it is not a true F2P game. It is merely a very glorified trial version. I could play in the trial all the way to lvl 15 (all content to that point). Now I could (if I was F2P) play up to lvl 50.
The Rise of the Hutt Cartel was the first expansion, and it will be the last one I ever bought. I even paid for it as a VIPer. Now VIPers get it free, and SWTOR didn't even refund those who had purchased it a few months previously (launch in April 2013 IIRC; as of Sept 2013, now free to VIPs). What's more, those who purchased the xpac (or pre-ordered it) months ago get pretty much nothing, whereas new subscribers get about a thousand extra Cartel Coins which were NOT offered to the loyal players who purchased it when it first game out. That would be like making everyone buy HD and then Turbine giving it free to all current VIPers (and throwing in an extra thousand TPs) without even refunding the $40+ that many of those same players already paid.
R5 100 GRD Marevayave - Leader of Riddermarked For Death
R8 100 MNS Fayah/100 LM Siennah/100 HNT Dinenol/100 RK Dhurik
100 CHN Alachas/85 CPT Dinfaerien/60 BUR Dhax/35 WDN Godoric
R9 100 MNS Fayeh (alt Wilya) - Lonely Mountain Band @ Landroval