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Recommended Quest, War and Event Play Order[RPO]
If you so choose, you can read the quest entries as a substitute to playing through them by clicking on their respective links.

The main storyline thus far is the Devourer Saga (many years in the making!). Prior to starting the Devourer Saga, it would be wise to also complete the following in any order (except the Darkovia quests; play the Darkovia quests prior to the Nightbane Chronicles).

Travel Map > Travel South > Yenghaland
Travel Map > Zorbak's Hideout > Twilly vs. Zorbak > Twilly vs. Zorbak Part II > Zorbak's Trickery!
Warlic’s Mage Shop > Class Quests > Mage Quest! > Next x3 > Mage Class Quests
Travel Map > Sail East > The Maelstrom — Guardian-only
Twilly > Hello! > The Frogzard Hunter! > Visit the Frogzard Hunter > All of quests 1-4
Travel Map > Darkovia Forest
Yulgar's Inn > The Devourer Saga > Strange Whispers > The Nightbane Chronicles OR Travel Map > Sail East > Sail East > The Devourer Saga > Strange Whispers > The Nightbane Chronicles
(Don’t actually read “Strange Whispers” if you don’t want spoilers.)
Read through Frostval 2006
Read through 4-Leaf Clover Field! to be introduced to Kalanyr (or just read the Encyclopedia Entry linked)

To understand the events of the Devourer Saga (to a certain degree), do the following quests in the given order.

Twilly > Hello! > Heard any rumors?
Yulgar’s Inn > Go to Lounge > Sage Uldor > What do the Drakel want?
Travel Map > Granemor > Dewlok > Any Drakel around? > Drakel
Travel Map -> Granemor -> Boog's Tavern -> Upstairs -> Talk to Thalia
Isle d'Oriens > Falerin's Domicile > Click on the Time Scroll lying on the extreme left side of the table — Guardian-only
Travel Map > Sail East > Stonerule > Speak to Artix > To Stonerule! > Take a closer look... > The Carnax Saga Cut Scenes OR The Last Stand > Carnax Saga Scenes
Travel Map > Sail East > Stonerule > Speak to Artix > To Stonerule > Take a closer look... > The Return of Riona Shadowgale!
Travel Map > Sail East > Sail Southeast > The Devourer Saga > Mount Thrall > Pod 1 > Relive the Battle to Save the Future! The Story > More Story * 3 > First Meeting with Maxwell and Morgan OR Battleon Inn > The Devourer Saga > Mount Thrall > Pod 1 > Relive the Battle to Save the Future! The Story > More Story * 3 > First Meeting with Maxwell and Morgan
Travel Map > Sail East > Sail Southeast > The Devourer Saga > Mount Thrall > Pod 1 > Relive the Battle to Save the Future! OR Battleon Inn > The Devourer Saga > Mount Thrall > Pod 1 > Relive the Battle to Save the Future!
(In other words, play through the Carnax Saga — Guardian-only. Don’t actually read the parts that occur in the future of the Devourer Saga.)
Isle d’Oriens > Falerin’s Domicile > Click on the Time Scroll closest to Falerin on the left
Isle d'Oriens > Falerin's Domicile > Click on the second highest book in the stack on the table > Read
(In other words, play through the Dragon War — Guardian-only — and then the Great Fire War — Guardian-only. Don't interact with the island or talk to Eldron unless you want a lot of spoilers.)
Read the following in the following order if you wish to understand Deren and the surrounding nations' interactions and who Glenn Galrick is.
The War of the Words
All That is Evil is not Dark
Manifestation: The Coming Dark
Confrontation