Ok, I take the bait.
By "intensive lore" you mean knowing the main features of each city, the major groups of meanies, and so on? Fortunately, new players will never know them (but maybe GMs should at least be aware of as much as possible - the forum with the plots from the beginning of times is still up
). On the other hand, it's always been a rather cool excuse to tell stories to newer people. I loved hearing about the Eye and the occupation of Marali when I had just started.
Alas, I think *all* the old plots and city features are long lost and destroyed by time, different hands playing the same characters, OOC issues, and all that (of which, I'm in no way denying my own share of responsibility, as I think no one who played intensively before, say, 2013 should). So trying to bring them up is only likely to make them worse, more inconsistent, full of holes.
That doesn't mean, however, that "super serious roleplaying" can't be about giving again some sense to the world of Oberin in a meaningful way. That's the super-serious bit, I'd take it (not the pompous words). I, for one, would very much enjoy seeing again story arcs that involved many people (if there's enough people around, that is) and require lots of report typing. Or that the difference between cities would be more than just creature levels. Or... I am, as always, up to play along with that.
And yes, I know it takes a lot of work and would be happy with just a brigand camp here and there.
As for hack&slash... I like blood, but there tends to be an issue about the balance in those... A few deaths, ok; too easy, boring for some; impossible to play with some strategy and player collaboration, ok only if there's a very good reason... Super-serious RP, for example.