The PvP system is pretty much free PvP. Anyone can kill anyone, but you are flagged a murderer. If flagged a murderer or criminal, town guards will come after you in all but 2 of the towns, which don't have guards. There is a guild system, too, which you can have a chaos, order, or neutral guild.
Quests is something I am going to implement probably during the first stages of beta testing. I would like some developers to help me with that.
If anyone has played Ultima Online, it is based off of their graphics engine. The graphics aren't great by any means, but it's fun. It's more of a free MMO where you can do anything. A lot of the events are staff oriented.
I'm not really sure what else to say about it, so any more questions, just ask.