Hello, because I'm stuck in a lab, I'll answer two of the questions (some of the others I think are best left to Transience).

-------------------------

[quote=@yoshua171]
5.) Where's the story so far? Should I be reading the IC posts to catch up and get informed, or is that entirely optional? I might read it anyways since quality is given importance here, yet I glanced at the IC tab and there was a vast amount per post, which is not at all a bad thing. I don't get intimidated easily, plus I love me some in depth writing with high quality and plenty of content ^_^
[/quote]

The story so far can be found in the IC. :)

The first page of the OOC (or well first post made by Transience), I believe, offers a bit of general lore (I think he/she added the names/domains of a number of gods as people wrote them for example).

[quote=@yoshua171]
4.) Are we limited to human or humanoid races? Beings with only one form (aka no shapeshifters) or is it possible to make races like you would any other lore and then play as a member of said race with your character?
[/quote]

Going back to the early days of the thread:
[quote=@Transience]
[@rivaan]My original thought was to have the world as a human-centric fantasy, so I would recommend there be a decent reason for whatever animalistic traits they do have. If you were to create a character with fox-like traits it must be obvious they are still human, and I would ask you keep the animalistic traits fairly low-key. For example, I would prefer slit pupils and sharpened teeth as opposed to feline ears and a tail. 
[/quote]