Subscription – A service designed for players who want unrestricted access to all the game features via ongoing subscription or by redeeming a Game Time Card. In addition to gaining access to all game content as our current subscribers do now, Subscribers will receive ongoing monthly grants of Cartel Coins*, the new virtual currency that will be introduced later this fall. Cartel Coins can be used to purchase valuable items including customizable gear and convenience features that will enhance the game play experience.
Free-to-Play –The first 50 levels will be free-to-play, with some restrictions on access to new content and advanced player features. Some restrictions can be “unlocked” with Cartel Coins.
It won't be fully free to play, no no. The Bioware will still get their money through tokens for warzones and flashpoints, as well as paying for extra characters. At least it will be possible to play one human (other species may be available only with $$) character, to level 50 (the level cap will increase for other $-players).
I'm hoping to get some older players to join us in TOR after this, like you Knight Vargus!