As for a setting this is what I got so far.
I am going to do a medieval type world with some steampunk flair. Weapons are medieval style, with some steam punk qualities. You can get creative with that. You can have a vibroblade. Which if you don't know is a sword that vibrates at high frequencies to allow for greater cutting. A kinetic hammer. Powerfist. Electric mace. Whatever floats your boat. Transportation consists of trains and air ships. So that will add a bit more steam punk flavor. Here are some links below to the type of weapons I am imagining. Let it be known, if you prefer to just have normal weapons, they can be just as effective in the hands of a skilled warrior. Below are some links to the type of weapons I am imagining.
http://fallout.wikia.com/wiki/Super_sledge
http://fallout.wikia.com/wiki/Power_fist_(Fallout_3)
http://fallout.wikia.com/wiki/Jingwei's_shocksword
http://fallout.wikia.com/wiki/Shishkebab_(Fallout_3)
http://fallout.wikia.com/wiki/Auto_axe
http://fallout.wikia.com/wiki/Shock_baton
http://starwars.wikia.com/wiki/Vibrosword
http://dragonage.wikia.com/wiki/Bianca
As far as abilities of the characters, we will keep to "enhanced abilities". A good character to base that off is Captain America. I don't want people throwing 2 ton boulders, or moving so fast you can't even see your movements, or jumping twenty feet in the air. None of that. However smashing through a wall, block arrows with your sword, or jumping over a person is acceptable. Just make sure you don't god mode. Keep some realism. As for races, let's do human, elf, and dwarf. FYI, all races in this world live to be around 90-120 years old.
As a note for writing, I forbid one liners. There is no reason for a one line post. If you needs help making it longer, collaborate with someone. I am going to impose a STRONGLY suggested 5 line rule. Please do your best to adhere to that. If I think your post is a little weak, I may send you a PM with suggestions. I am in no way an expert. But I do like trying to write quality stuff!
I require everyone to make character forms. Please use this template. FYI, I may ask you to change/add things. But probably not!
Name-
Race-
Age-
Personality-
Appearance-
Attire-
Weapons-
Bio-
As GM I will also play the head of the mercenary group. I will post up a character tomorrow I think. I will make a OOC-Thread for you all to post in it. I will post the link here! Please post Character sheets there. Not here.
EDIT- I am going to wait to post the OOC thread till I have a character sheet ready and a proper intro for the thread. I'll have it up tomorrow.