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I would suggest , as it meets all of your requirements, except that it has no global channels--and make no mistake about it, it is one of the most challenging MUDs (both to learn and to play) out there.
Other than that, I would say that, in my opinion, and , in that order, are the next best free MUDs with respect to the requirements you list as being most important (though Arm has no global channels either).
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