I'm hesitant to actually call Arden vaporware, but I don't see how a Neverwinter Nights module can help "test political and social theories." Over on Terra Nova, Edward Castronova (who's running the project), admits that they didn't make it fun, and laments that testers wanted "monsters" to turn the thing into a game. So he's planning Arden II:
I take a little issue with the fact that he thinks only "monsters" can make a "gripping game experience," but seeing as I don't have NWN installed at the moment, I'll have to leave my analysis at that. If you get a chance to check out Arden, let us know what it's like. I'm sure there is a lot of interest in a "gripping" virtual world full of references to Shakespeare, but by the creator's own admission, it seems that Arden probably isn't it.