Prime_Evil said:
Stuff and "My gut instinct is that pulp-style swords and sorcery fits the bill, as does dark fantasy tinged with a bit of gothic horror (like some of the early Warhammer stuff..)"
As for the last, Lankhmar has been done as MRQI&II as has Moorcocks, Elric of Melnibone (the MRQII version by Mssr Whittacker is most excellent) and Hawkmoon (MRQI only at this stage). All of which work exceptionally well with the system. The SGB (Spider Gods Bride, for those not in the know) provides the bones of a very Conan-esque Sword & Sorcery setting with a wealth of additional information on Xoth.net. Admittedly the latter is more skewed to D20, but the material is still good.
So, I would have to agree that the S&S genre is definitely a strength of the system.