Well basically you lose all the unlimited stuff you have gathered, like weapons (you keep the
cutlass, pistol and doll), all ships above the Light class, clothes (you'll wear starting clothes),
tattoos, jewelery and hairstyle (not sure about this though). Basic Access can now play on
fullscreen, and Jolly Roger will be available for them too, as well as the 3D.. Also your skills
can't be upgraded above rank two (two skill points per skill) and your Weapon Levels won't
go over 7. All above that will just be locked. Also, you can't make your own guild. You can't
finish the Black Pearl quest or join the Boss Battle, but I don't know about pvp or svs, don't
really do those. I remember a time when Basic Access wasn't allowed to go to Kingshead, I'm
not sure if they took that off too. And I guess that's about it!