I personally feel that we should leave PVP on. Now this is a double sided blade, mainly because of our player database.
Advantages: Realism, avoidance of power gaming, intimidation will mean something, and wars.
Disadvantages: No RP kills (player fault), Powergaming (player fault), villains will seem as less of a threat, unrealistic traits (players fault).
I'll start with the disadvantages since I feel those must be addressed. Let us start with the No RP kills. Let's face it, a lot of people have been no RP killed, but we cannot blame PVP for that because this is a issue caused by and to players using PVP. Even though turning off PVP would decrease the amount of no RP kills, it would also make it to where people have to use /damage for role play. We have a ban system for accidents like this, so there is one issue solved. Now we are getting into the Powergaming part, which might be the biggest issue with this. As already stated above, we cannot just rely on players to use /damage because a lot of players will often try to weasel out of this by waiting obscene amounts of time for health to regenerate or not use it at all. Another issue would be the whole "Jack of all trades" thing again. Due to he fact we cannot see other people's stats, this would make anyone able to be a "epic warrior" due to only needing a weapon. Next thing you know, they are harvesting wheat, repairing their iron armor, catching hundreds of fish, and cooking hundreds of pork. This is NOT acceptable as it would worsen RP majorly. On top of that, any weapon skills would be rendered useless, as anyone would be able to parry two swords at once and such. Next would be the bandits, most of our very own beloved RPers would most likely disagree with this due to the fact that most robberies end with people running without legitimate RP, therefore forcing the hand on PVP. As Angelos said, many people try to run in this situation without RP and without PVP, they have no way to catch the runners. One notable villain trait is murder, however you will find that most of the time players do not legitimately used /damage to equvilance to how it would really affect their character. Disabling PVP would really make this a ton harder for villains who base their app on murdering and such.
Now the advantages of keeping PVP are better in my opinion. Lets say you got into a fight, but the other person is just constantly emote dodging. We would need PVP in this instance because this would be a obvious example of Powergaming, therefore making it insanely aggravating to the other end of the RP. Now with PVP, you could actually just whip out a sword in this case and tell them you will start doing real hits if this continues, followed by death. Then we come back to the villains. I can garuntee that without PVP, villains will turn into pushovers that players can beat with ease. Now then with PVP, people will actually have to use cunning, skill, or strength to beat them rather then *kicks in the balls and runs away*
Of course I know that neither side is correct due to the fact, as previously stated, PVP is a doubled edged blade. I personally hope PVP stays on because I could list a number of power gamers right here. I like this server, and I believe it needs a mix of RP and PVP to keep it fair and good, like it currently is.