I'd prefer, "Just start banning cheaters in small groups every week letting the rest of the cheaters decide whether they would rather quit cheating and play UO, or not stop cheating and not be able to play UO after being banned."Like Lord Chaos said EA ROLLED OVER.
Fact is they could stop scripting by releasing a major patch every 2 days. Fact is they could stop speed hacking by using movement timers, like any other timer in UO.
Just legalize all 3rd party programs and be done with it.
I suspect most would decide to keep playing and stop cheating. Or at least find a new cheat and get nailed later for it.