well, since we are asked how we feel, here is my opinion:
If a GM was doing an event where they played the role of Talad, Laanx, etc, then appropriate power would be ... appropriate.
I would think the primary role of a GM would be to police and admin the game itself. (as per Rennaj's post). If they get bored and just want to play, I would think they should play normal characters bound by the same rules and laws. Imagine if police were allowed to shoot anyone who got in their way when they were off duty.
However... If they were to, for example, be creative in their roles as GM... Let's say you catch someone aggroing monsters and getting them lost, to prevent others from playing. Sure, you could warn them, but how much more fun it would be if you then simply became the mightiest ulbernaut, or whatever they were aggro'ing and chased them across maps, wait for them to log back in... etc... now this vicious monster might even run into hydlaa, where the community could join forces to defeat it. Fun stuff. And then an "angel' of talad could explain to the mob... I mean crowd.. that so-and so lured this danger to hydlaa, and for the next 10 minutes, or until they die, Talad would be lifting his protection from him... hehehe. That and the local guard leader and the octarch asking the posse to remove this person from yliakum, and help him find his trial in the DR, (where the penalty will be the curse, as normal... of course) would liven things up...
In other words, it can be fun, within settings and all that.
But a God other than the ones we know coming into the world and trying to interact with us mere mortals, would the residents of Yliakum not start a new church in their name?
Besides, I remember once chatting around the anvil at harnquist's and harnquist joined the conversation. No spells, no magic, just conversation. Much better than even when the Riverlings invaded Hydlaa, IMO. (besides, where are those guys? I have looked all over. If they were from the stone labyrinth, then, as per the octarch decree, we should of killed them, but if they are not, then we should not have... and I do nto see them locally.... were we wrong to let them live? hehehe, I know..
)