I would really like to see alot more ideas on how it would be done or work so that they just don't turn back on an old system. Alot more depth could be added without making it complicated and alot of ideas could come out of it making UO alot better than it is now.
I would like to see them use the faction system, where they take 2 factions and make them Chaos and take the other 2 factions and make them Order.
What i'm thinking is, is that you earn the Order or Chaos rank, allowing you to wear the tag and it would give you the ability to use faction items where they could add Order and Chaos items that are unique.
They could also add Faction and Order Guards that could patrol the maps or the lands.
To me the Faction System is complicated. You have to have a thief steal a Sig and then you have to do something else and then it's just all to boring.
If you die you have to wait. When somebody takes over a stronghold you don't even know about it. There are some cool things though, and it's a great idea the way it brings different guilds into a large group.
But, really, the only good thing it's good for, unless your into Sigs or have a thief, I guess, is to go to Fel, wait for the enemy, kill the enemy, or get killed by the enemy and then leave, at least in a nut shell.
Maybe, they could make the Order/Chaos The Elite of Factions and build 2 main strongholds. Make them walled with unique traps and awesome fortifying weapons like Rolling Fire Logs, Burning Oil, Catapults, etc...
Most importantly put an Order and Chaos Flag that can be dropped and replaced with the opposing team's flag. If both forts are held for a certain amount of time, the winning team could be given points. The points could allow for earned time in other facets and also a percentage of their earned silver could be pillaged.
Once in the Elite Chaos and Order part of factions, you would be able to avoid stat loss and travel into other facets and wear the Order or Chaos gear.
The reason why I think it's important to have a Flag and a Stronghold is because it gives people a reason to fight and simply by being in the area, would be enough to alert all the members of the invading forces. Pretty simple and alot of fun.
After the time period is over both Strongholds could revert, similar to a champ spawn, resetting Siege weapons, banning the enemy and restarting the timers and flags.
This is just an idea and an opinion because I would just like to see something more put back than just a shield and code of honor.