Copied and pasted from their FAQ section:
What is Star Trek Online?
Star Trek® Online is a massively multiplayer online role-playing game set in the Star Trek universe. Star Trek Online will be developed for both console and PC formats. Game features will include customizable ships and characters from the Klingon Empire and United Federation of Planets, ground, space and shipboard gameplay and unique options for player-generated content.
What is an MMORPG?
MMORPG is an acronym for massively multiplayer online role-playing game. In an MMORPG, millions of players from around the world can interact with each other to socialize or achieve common goals.
Will a monthly fee be required to play?
We haven't decided on pricing plans yet.
What is Cryptic using from the previous development?
Star Trek Online is entirely based on Cryptic's design and built entirely using Cryptic Studios' technology and assets. The former studio that we acquired the Star Trek game rights from had a huge amount of concept art created for their game – much of that is applicable, and we are taking advantage of it. But Cryptic's engine, technology platform and content pipelines have become so mature that with a small team we can quickly ramp up a project.
Will there be PvP?
Yes. We plan for a faction vs. faction PvP ruleset, but there are also plans for a competitive PvE mechanic.
Will there be PvP, PvE and RP rule set servers?
There will not be separate servers for PvP and PvE rulesets. Open PvP will be restricted to designated sectors of space (far-off reaches of unclaimed territory). Consensual PvP and competitive PvE will occur between the realm borders (the Neutral Zone), where players will be competing over territory and resources with the option to PvP.
Will there be an economy?
Many of the details are still in the works, but yes, there will be an economy that makes sense in the Star Trek universe. Since the Federation has explicitly done away with money, expect bartering and trading of goods to be an important part of the economy. Less tangible forms of economics such as Reputation are also not out of the question.
What are the system requirements?
We haven't finalized this yet. Suffice to say, we want to make a game that looks great and can run well on a wide variety of systems.
Will you need to have to have an internet connection to play Star Trek Online?
Yes.
When does the game take place?
Approximately 30 years after the events in Star Trek Nemesis. The game starts in 2409. Technology has advanced and the galaxy is a much more volatile place.
What races will we be able to play?The plan is Human, Vulcan, Andorian, Klingon, Orion, Gorn, and several others. You will also be able to create your own race with its own custom look and attributes. 
Will everyone be the Captain of their own ship?
Yes, but you will have to earn the responsibility and skill to command larger and more powerful vessels. Remember, in Star Trek as well as naval tradition, whoever commands the ship is the "Captain," even if it is not your current rank.
Can I play something other than a Captain like a Doctor or an Engineer?
Everyone is a Captain, (remember, if you command a ship, you are automatically a Captain), and you will command a crew, but that does not limit your role. Your character will still be able to choose from a variety of career paths, such as Engineer, Tactical Officer, Doctor, Science Officer, etc. Your career path is your root, and will affect your skills, and how you command your crew. Consider Jean-Luc Picard, Beverly Crusher, Worf and Kathryn Janeway. Picard was an archeologist and diplomat, Crusher was a doctor, Worf a security/tactical officer, and Janeway was a scientist. Each eventually chose a career in command and became ship captains. This does not mean the game will limit your ship choices based on your profession – far from it. The examples are simply an example of how the game design was inspired.
Do I need to be well-versed in Star Trek lore in order to play Star Trek Online?
No, even the most casual Star Trek fan will enjoy and appreciate the world. For those not familiar with the Star Trek universe, Star Trek Online will be a new experience with as much depth as each individual is comfortable with exploring. However, the world will be rich with lore from every series and movie that will satisfy even the most devout Trek fan.
How will I be able to play with my friends?
In space, you can form teams and do missions together. Space battles will occur between multiple player and NPC vessels. When you do a ground mission, the mission owner can build an away team that consists of other players. Outside of combat, there will be numerous community building features, locations, hubs and events that will bring players together.
Will console and PC players be on the same servers?
We would like that to be the case. There is nothing technologically keeping us from making it so.
Will there be realistic travel times in space?
Travel times will be semi-realistic, with a focus on fun. Space is big, and it can take a very long time to travel great distances. That travel time can be impractically long. We will introduce transwarp conduit technology and worm holes to allow players to travel to distant sectors of the galaxy without needing days or weeks of gameplay to do so.
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