One thing that articles like this never mention is that you'll be incredibly lucky to find a job like this. The MMO market, when LOTRO was coming out, still wasn't really full of stuff, and it fills a definite niche there, so the relatively new Turbine needed people for jobs that there really weren't that many people with experience for. (decent quest text? In an MMO?)
It'd be a heck of a lot harder to get into the normal AAA game designing market. It's hard for a new developer to get ahead, and many of the old ones don't hire new people all the time. I imagine the best chance would be to get a job with one of the newer companies, or, even better, an expanding company, do your best work, and then use that to get a job that you like even more.
Another aspect is the education. Even 5 years ago, there weren't all that many game design schools, but it's starting to become more common, and developers are looking for people with that kind of education. Not to say that someone without that can't get in, but I imagine it would be a lot easier!
I've thought about this a fair bit - I'm seriously trying to get into the industry.