Star Wars: The Old Republic E3 2011 Hands-on - Great Write Up

http://www.neoseeker.com/news/16628-star-wars-the-old-republic-e3-2011-hands-on/

Starships & Companions

In Knights of the Old Republic, players were given the Ebon Hawk as a base of operations and a collection of companions to keep the ship lively.  As the spiritual successor to the KOTOR series, The Old Republic employs this exact same formula by awarding the player his/her very own starship, in addition to a whole new cast of companion characters.  Your starship will be your main form of transporation across the galaxy, and exploration is obviously an important aspect in any MMO.  Being a Star Wars game, players can expect to see iconic locales from the core series and expanded universe, and every location features its own overarching questline.
You'll recruit companions throughout the game in much the same way as in any other BioWare RPG, and as briefly mentioned above, approval ratings do come into play.  For those unaware of how this system works, your in-game decisions, no matter how small, affect your standing with certain companions depending on their personal values.  Accepting a quest to help someone without any payment may not jive with the Bounty Hunter on your team, while that same choice could increase your approval with a more altruistic companion.