Right now? Nothing. All that's going on is me playing a very short amount of past-development on two of my characters, but both are pretty minor. Almost all of our members have stopped posting, on of our Mods has been missing for near a year, the other is hardly ever online, because he's busy, and we've not had an actual new player in quite some time.
Usually, just me and Scorch have been messing around in the thread recently, and Wind managed to come by a few times, but our activity is at an all time low.
As for how a story would typically play out, it matters on who/how it's started/played out. If you were to decide to bring an arc in, you can either let it subtly play out, or tell everyone that you have a plan, and carefully string everyone along the events.
The whole idea of the thread is free will with their development, letting things play out the way they wish (Within the guidelines, of course). Even though a lot of us prefer to post short replies, I'm sure you know that everyone in our canon is yeas-experienced, and can play along with just about everything.