The MMO Gamer asks these questions and more in an interview with Wizard101 Director, J. Todd Coleman; the man who conceptualized the original idea for the game on a note pad. The interview sheds light on how Wizard101 came to be, the free-to-play model, and potential directions the game may take in the future (e.g., player housing).
Todd also tells us that reports of the game surpassing 1,000,000 players are outdated and that KingsIsle will be making an announcement soon to highlight their exponential growth since releasing six months ago. He claims that Wizard101 wouldn't have had nearly this much success if it was a $50 retail purchase and $15 per month subscription. About subscription-based MMOs he says, "...you're fighting a war of attrition the entire time. FTP is not like that, at least it hasn't been for us."