Direct trading will still come with the exact same limitations and costs as using the bazaar. You just have to coordinate the trade yourself so it's harder. The only upside to direct trading is that you'll know who you are trading to.
The obvious concern here is that people will sell huge items for unreasonably cheap in game for real money outside right?
We have many restrictions and requirements in place that make item selling en masse, at best, very impractical and easily detectable.
If you are selling many things to many different people for 1g all the time, that's going to be super suspicious.
You have to level up your MG rank in order to sell the big ticket items, this is a lengthy process that adds to the time cost of making a new account after getting caught. You also can't hide items on mule accounts due to the 1 time traded rule. You also have to farm favor to do the selling each time.
You can't move the items around various accounts so you have to sell on the same account as farming.
So while it might be possible to slip a few RMT sales under the radar here and there, it's not going to be viable to set up a business on it.
We currently predict that we will be able to keep the RMT to a level that is invisible to almost everyone while still providing the functionality of person to person trading for those that want it.
All of this is subject to change based on what actually happens and we will be keeping a close eye on it.
With the current plan, one thing I am confident in though, you won't see mega expensive top tier items for sale on day 1 of a cycle.