Just to flesh out what Karyuu said, the core story and setting has been finished for years. Details about races and cities and monsters have been added all along, but those were added by team memebers to expand the existing details. And of coutrse, there is much more prepared then any player knows, but you will have to find details as they are added ingame.
And yes, the game and engine are pre-alpha. We still have quite a ways to go on adding functions that people consider basic. Not to mention that server stablity is still a battle. So even a good request on the wishlist is a low priority. That doesn\'t mean they are pointless, but highly request features will be considered first, and controvesal ones like \"vampires\" won\'t even be considered.