My buddy John and I are working on our own RPG that will exist as both an MMO as well as a tabletop game. 
For the art direction I’m planning on going for a graphic look that resembles stop motion animation of papercraft minis. The reason for this is so that the game is graphically unique, makes use of my love of papercraft (and possibly attracts the attention of fellow crafters to help out) and to further bridge the MMO and the tabletop experience. My goal is to design the minis in such a way that they are easy to assemble for non-crafters as well as being modular in order to mix and match components. My thought is that players will be able to print out templates of their character with their current equipment for either collection or for use in the tabletop version. I figure that if the parts are modular then players will only have to print out and assemble one part when they upgrade something, instead of rebuilding their whole mini. The paper-minis by Eddic on Fantasy Paper Miniature Models have a great level of detail and are some awesome minis; unfortunately the models are more complicated than I would like and I’m not sure how all I would modify them to be modular for all the player’s gear.
My first prototype has some good proportions but this build is about 6″ tall and if I shrink it down to a handy 3″ then things like the hands are going to be impossible to work with (as I plan on allowing swapping of weapons and such). I didn’t bother to finish out the armor and shoulders for this model as I wanted to get it built and evaluated. Not happy with the head, I think that the head from proto2 would work out better on this one. I may still keep this design for a giant or something though. I’m borrowing some design ideas from paperrobots1999 as well as from PaperToyAdventures, hopefully they won’t mind too much…
My second attempt I shrunk the model down to about the size I wanted but retained the size on things that would be too difficult to work with if smaller… but as you can see he ends up looking like a dwarf or something. On the other hand he has a decidedly “8 bit” quality to him that would fit perfectly with the game we’re making. I don’t know that this is conducive to tabletop gaming though 
but it does make for a cool little model akin to PaperToyAdventure’s stuff.
