The modern age is upon is and the center of the modern world is MoBu City, a teeming, dense metropolis built on the grief, greed, hatred and faith of ages past.
What MoBu City is NOT:
This is not a place where magic has faded and the great epics are over. This is not a city that wears scars of past magical events in order to illustrate to the players that the greatest arcane feats were in the past. The scars of past magics are created to illustrate that sorcery is dangerous and has left its mark.
The only thing fading is the vassal system and the systems of government rising up to replace it could easily be worse.