Personally, I stopped playing City of Heroes when the announcement hit three months ago. The game is no longer fun when I'm playing it on a death clock. I will agree with the others that I really can't find another game that's as good as City of Heroes, especially in terms of putting my imagination into reality. However, it was also never the only game I played, nor indeed even the only genre, so I'm not without things to do. Work's been up my ass recently, too, plus I have a backlog of other games I wanted to play and never found time for.
In terms of a creative outlet, though, I have to say that the Phoenix Porject Z has been more than managing my inspiration, and it even has me a little intimidated at present. I'm being asked to expand my Curian faction of aliens and I'm not entirely sure what else I can do about them. In fact, I'm posting this post instead of doing that...
I still hope someone will pick the game up, though, or at least that a "private" server will show up. I CAN tell you one thing, though - I really only cared about no more than half the characters I recorded and wrote down. City of Heroes spoiled me, and I ended up with a lot of characters that I really hadn't invested much into.