I've been refining this setting for a while, and condensing info considerably (the original setting covered some 50+ pages single spaced). I worked with it on Yahoo groups for a bit, but have decided to bring a modified version to Elliquiy, if there's interest.
I'd like to focus on the Academy and its valley (which has opportunities for good old fashioned dungeon crawls as well as politics, school days, etc.), but expanding is certainly possible. Even within the valley, numerous character types are possible.
In a valley of the Border Mountains there sits the Royal and Holy Academy of the Sorcerous Arts and Alchemical Sciences of His Illustrious Majesty Unferth II. More commonly called simply The Academy, this is the fortress of the Lord Defender of the Northern Marches and the kingdom’s only institution of magical education. The Academy is also renown throughout the continent. It draws students and masters from every nation, representing every known sentient race. Like any institution, the Academy is subject to internal politics as the masters jockey for position and status, often drawing their apprentices into their struggles. Even external politics and conflicts play a part in the school’s enclosed society, despite many claims that the denizens are aloof from such common things.
This is a freeform fantasy game (although with a few days or a week I could turn this into a GURPS game). Any fantasy races are acceptable, we just ask that no copywritten (Hobbits) or setting specific (Drow, Kender) races are used.Wiki Page
(more setting info)