Since the two people currently working on ToE both love writing, dialogue will be important to learn details of the world. Quests will be of both the random nature, which will help to teach about the world, as well as of the plot-advancing kind which will help advance a central theme. As of now there is an immense amount of setting information, but more goes online every week.
Some of the more technical aspects have not yet been finalized, but it is intended for actions on the server to advance history past what shows up on the official setting timeline. Honestly, every site seems to say they'll have the exact same 'unique' NWN2 items, so there isn't much point detailing them out. The usual economic system (supply and demand), death system, etc., will be used. The main intention of the PW is simply to give players a taste of the world and to tell an epic story. Role-playing is, of course, encouraged.
Thanks Cyrana!
