It looks like the Thundarr/Exalted mash-up is likely to happen.
I’m personally trying to flesh out the setting in my head. I came out with a bit of cosmology the other day – it will probably have little bearing on the game, but I think it is neat.
The Taxonomy of Spirits in the Second Age
Inanimae are the spirits of inanimate objects (including plants). Most are unconscious and incapable of taking material form – they can, however, be affected by magic and other spirits… with a consequent effect upon the objects to which they are linked. Powerful inanimae – also called small gods – dwell in objects of great importance or have been awakened by magic. These are conscious, though not necessarily very intelligent. More important objects often have more intelligent spirits, while a simple sword that has been enchanted is fairly single-minded. The most powerful inanimae are often indistinguishable from the true gods.
True gods are the spirits of ideas or concepts. These include such things as war, death, and love as well as things such as specific nations or cities. Some true gods are not particularly powerful: a single person might have a unique idea. With the creation of this idea comes a tiny god, probably unable to have any real effect on the world (such tiny gods are usually preoccupied with their own survival – they often do what they can to spread their own idea). Moreover, things given names by men – such as forests and rivers – develop true gods.
Animae are the spirits of animated living things. The animae is fused with the living creature and has no real independent existence. All such organisms have a spiritual component. Sentient beings have varying levels of control over their animae. Some men focus upon developing this control and become wizards. Some creatures have a limited natural control which gives them strange abilities.
Magic is what happens when the spirit world has an effect upon the world of matter. A wizard might use a death magic effect – causing his own animae to slay the animae of his enemy, thus resulting in the enemy’s death. Another wizard might pick up a stone and have his animae shape the stone’s inanimae… causing the stone to become a useful tool. A third wizard might opt for a showier display and briefly alter the inanimae of air to become that of fire, burning his foes physically.