When you cancel, you lose access to your two bottom pirates in the list (if you have multiple characters).
-You will not have access to server list when logging in (might be a delay)
-You will lose access to all ships excluding light sloop and galleon.
-You will not have access to your dagger, grenades or staff.
-You will be limited on quests available to you
-You will be limited on reps gained
-You cannot play in full screen mode
-You will not have access to server list when logging in (might be a delay)
-You will be restricted to level 20 on your character
If and when you switch back to a paid account, everything you had when you canceled will once again be available. You DO NOT lose any gold, ships, weapons, notoriety, belongings.....etc. All returns to normal as it was prior to canceling.
There might be some other minor things you don't have access to in free play mode, but I think I covered the majority.
