Microtransactions if you're not familiar with them are items (skills, buffs, gear, toys, etc.) that can be purchased inside a game. Most give an advantage of some type over players that only use the 'free' items.
World of Warcraft has a subscription based system with a modified microtransaction system. You can purchase pets to play with inside the game but actual gear that can help you become better, stronger and faster is not directly available. (Before you say it, yes I know there are mounts and other items that can be purchased that technically can enhance your gameplay).
I have been a member of Facebook for about 5 years now. And up to now I've never spent a penny on games such as Farmville, Cookville, Monkeyville and others. It boggled my mind just why someone would pay good hard earned money for a completely fake item. Even in Warcraft you could find ways of spending hard earned greenbacks to obtain gold. (Hopefully if you have read any of these entries that are on this site then you never ever have to buy from a gold vendor again).
But recently I've had a slight change of perspective. The one thing that has made me hesitant to spend my hard earned Georges (I have other names for them) is that I spend 15 dollars a month just to get access to a game. The idea of opening up a game to let the rich become more powerful and the less fortunate end up having to work twice to three times as hard to get there.
My suggestion that if a micro transaction system is created and the free to play system implemented by Blizzard is that there be a cap on the amount of real money able to be spent. I expect that soon (perhaps next year) that there will be a rise in the subscription cost to play World of Warcraft. If a hard cap of 20 dollars real money is placed on what can be purchased for any account it keeps the playing field even, but still allows players a lot more diversity on what they purchase.
Warcraft has a large fan base that stays loyal to the brand even through the large amount of 'WOW Killers' that take their shot at the King. So a conversion to a micro transaction system can generate the same revenue and still allow players to continue to play in Azeroth.
Good Luck and Good Hunting
The New Face of Opportunity
Bring Out Your Pets
Bring On The Next Wow Killer
The Value of Material Assets
PVP Sales Are Not Kind To Me
Finding A New Ryhthm
Breaking The Million Gold Barrier
Bye Bye... I Will Take Your Gold Now
Post Patch 5.3: The Lineup
Patch 5.3: It's here... well tomorrow
Patch 5.3: Preparing for the Arrival
Patch 5.3: Grasspicking World Order
Patch 5.3: Bring Out Your Miners
Enchanting add-on for quick flips
Prepping for 5.3: Profit lines