Not only this but it is confirmed that they have another years worth of content already planned out, and they also confirmed that they'd continue development for new content after that.
Yearg pretty much said it, but there's a couple of things I will add.
No doubt. If they actually had a high draw distance, and some of the technology in newer engines (pretty much just lighting/ambient occlusion/etc.), FFXI would probably look the best on the market. It is still very well done, has just as high of a poly count as the newest MMO's and textures are still very nice. It has aged very well considering when it came out.
This is the no. 1 thing I want. I want this more than anything, I'm sick of being treated like, it's amazing how FFXI still has a playerbase after the way SE treats them.