I just read about this last night (sorry, I'm slow on STO news). I am thrilled, as I loved the game but couldn't afford the month to month, and lifetime just wasn't going to happen. I'm a very
casual player, and mostly just liked hanging around in universe, visiting other ships and stations, and doing side missions here and there. I have my T5 Galaxy class retrofit, which makes me happy, and I can't wait to reconnect with my crew after being away for so long (I haven't played in almost a year now).
Having checked the F2P limitations, I don't actually see anything that I dislike. What they give away, I was paying $15 a month to do! The limitations are very reasonable, to the point where I'm wondering how they'll make money this way. I mean, full, unrestricted access, I get to keep my ship, crew and costumes as they are, I get 48 slots in the bank (I never used more than 10). What a deal!
Now I just have to hold out until Jan. 17th, which will feel like forever.