The first Harry Potter MMORPG is finally in development by Bio-Hazard Ent and has launched it's official Kickstarter campaign here:
TWWO Kickstarter!!
Since the project is in it's inception phase, there is still alot of room for design decisions. You can read more about the development plans, discuss features that you'd like to see, and get in contact with developers here:
TheWizardingWorldOnline.com There is some concern about feasibility and legitimacy due to the fact that BioHazardEnt is a newcomer to the scene, however they've taken major steps towards making this MMO a reality (including gaining J.K. Rowling's and Warner Brothers's permission to make this fan creation, which is arguably their biggest hurdle aside from initial funding).