Madletter

You dont have to wait for 4e to use the "points if light" approach. For a d20 game system that uses this world view in a low-magic grungy setting take a look at Iron Heroes. It still has powerful magic but its dangerous and unpredictable (just the way it should be in my humble opinion). The IH Players Handbook is written by Mike Mearls who I understand will take a lead role in design for 4e. See the connections?

As far as campaign worlds are concerned the first real shot at this approach was the Wilderlands of High Fantasy Setting which was originally done by Judges Guild in the days of 1e. It seemed to get swamped by the glossy High Magic worlds of Greyhawk and FR. Recently re-released, its got a massively detailed world, with islands of civilization surrounded by badlands and anarchy. There are a few hokey, high-magic/sci-fi details that you can choose to ignore, but on the whole its great.

What I'm currently playing? Iron Heroes set in the Wilderlands of High Adventure, believe it or not.

I have been hearing "points of light" a great deal recently, as if its something new or unique to 4th Ed. I think the marketing guys at Wizards are doing a fantastic job talking up catch phrases like this, and its their job to do so. I just wanted to add some perspective and offer a few alternatives.

Torq