I don't know alot about programming languages, or technical specs. Sprites and polygons are only things I've thought about at the same time when I was thirsty in geometry class like 20 years ago. But I DO know alot about business, and I'm an expert in the hospitality industry. And like it or not, MMOs ARE a hospitality industry as much as a technical one, in that their success and proliferation relies upon the approval of the consumer. And for the most part, consumers require a product that is satisfying or better in all applicable categories.
One of those categories is ease of access. In restaurants, easy access would involve parking, location, and layout. It can also involve staff availability, clear menu description, and readiness of product. In MMOs, these involve speed, interface, and practicality of game mechanics. In these, SA hits the bullseye. The interface elements, quite reminiscent of KR, make it easy to use the various functions of the game. Expanded macro options make game activities easier than ever, and increased customization makes for a game experience that can be unique to the user. From a business standpoint, I have to give SA an A+ for ease of access.
Another category, though, is the aesthetic. In restaurants, hotels, resorts and the like, aesthetics involve, to a great degree, the appearance of the facility. Consumers expect a facility to be both appealing to the eye and current to competitors. This is why most chain restaurants will update their appearance every few years. It's here that SA really falls short.
SA's graphics are an eyesore.
Now, alot of die-hards, myself included, will excuse the atrocious graphics and continue to play, simply because UO is a great game; this is alot like restaurant regulars who will continue to eat at the same spot come hell or high water. But let's face it; if it ain't pretty, most people won't want it. If you had never played UO or any other MMO before, and you were comparing stills of UO, WoW, and others, which would you pick? The difference is like comparing Final Fantasy X with Final Fantasy 3, or comparing a Renior with my kid's stick drawing. From a business standpoint, SA gets a well-deserved F for aesthetics.
So which is more important? Unfortunately, I'd have to say graphics. Graphics are the first impression, and both in the hospitality of food and the hospitality of gaming, first impressions are key. If someone takes a look at your restaurant and its so ugly that they don't come in, you can never wow them with your expert cuisine, no matter how great the food is. If people take a look at UO and are so horrified at the graphics that they never give it a chance, they'll never find out how much fun the game is. In both cases, you end up missing out on their money.
Anyone remember those old text-based mmos? They all but died, and it was because of games like UO, with their awesome 16 bit graphics. SUre, there was a heck of alot more you could do in the text based games, but you had to exercise that old imagination muscle that has died off in the world of late. SO uo made it pretty, and the predecessors went the way of the speak n spell.
Basically, businesses operate on what the stupid consumer wants, and the stupid consumer wants pretty. No matter how great any other feature of SA might be, it ain't pretty, so it's bad business.