I think I personally would try to run this at about normal or high-powered Heroic level: Super-heroic isn't really appropriate. The disadvantage levels of Heroic gameplay always struck me as a bit high, however: if I were running a normal heroic game I'd consider doing it as 100 points and up to 50 in disads. But anyway.
Sounds good. I'd suggest implementing Normal Characteristic Maxima but not provide the Disadd points for taking it as most Heroic campaigns do. I'd also suggest the balanced 75-75 just for the fact that with all the "races" running around down there, you don't want a character to take up almost all his disadd points in physical limitations (either by mutation or being an animal), but we'll see how it all goes and come back to this later.

-Multiple races. In general, the term 'The People' refers to all variations of humanity, while 'The Tribes' includes uplifted animal races as well. In addition to mutated varieties of humanity and animals, androids are also coneivable character concepts. In the original write-up the setting also included two races that were referred to simply as Elves and Dwarves, being living (and usually magically-inclined) manifestations of the natural world, living and unliving. I'm not /too/ sure about them these days.
This would be a good place to start making kits, if you are going to use them. Its a good way to provide a baseline for a race. It will take some character points and disadd points to create the kit so character just don't get some "free" points for choosing a race. It may be the only way that you may allow some powers or talents to be taken at character creation, too. Do try and include Everyman skills that the race may have that others wouldn't. Don't include personality disadds as that is a restriction on character creation for a PC (but I don't want to play the stubborn dwarf again). Here would be a slightly simplistic example of a kit for an Elf (Pardon if my point totals are off, I'll come back in and fix them later).
6 DEX +2
4 EGO +2
5 Darkvision
2 Mental Defense (Only verses sleep or paralasys effects -1/2)
1 WF: Longsword and LongBow
0 Language: Elvish (Fluent, Idiomatic)
1 Language: Common (Basic Conversation)
-5 Distinguishing Features (Elf, Noticable, Concealable)
-4 Con -2
Kit Cost = 10

You can do the same for classes, if you see fit to include them. Class kits are usually a bit more expensive than race kits and generally include alot more skills and talents.

-High technology. Now, this is a Heroic level campaign, so normally equipment wouldn't cost any points and instead would be handled by simply taking weapon familiarity. Given, however, the disparity that exists between commonly-available technology and the high technology that can be scavenged or granted by the Steel Gods, I'm opting to treat such items as magic items and, as such, make them something you have to buy with points. Jury's still out on that one, though.
One of the main things about Fantasy Hero is money. How is it best represented in a system where every item already has a value associated with it? A character that spends points on a "magic item" at creation will probably have to take the independent limitation for the item. If the item is lost, stolen or broken, then that character is out those chracter points and that's very much like a swift kick in the teeth.

Dark Champions uses the concept of a resource pool, which some GMs have adapted to Fantasy Hero uses. Basically, the character has a pool of points from which to build their starting equipment. As they adventure, the pool increases either by their spending points on it or by their aquisition of items during the course of play. If an item is broken or stolen, their pool total decreases by the amount of the item, but not the total points they can have active. It gets around the independent problem by not totally hosing a character when they lose a piece of equipment. I'd need to read up on it cause there is abit more to it than that, but that's the simple jist.

-Magic. Most magic will take some combination of the Gestures or Incantations limitations, though some spells can simply be Restrainable (and thus only stopped by a full-on Grab) or have no such limitations at all. Spells requiring accessible Foci are likewise possible, but I think this is a setting that works best without Delayed Activation. I don't think mages really need to be limited in the number of spells they can have up at once any more than the other powers need to. The only other big requirement to magic is that it /always/ costs END to use: magic has to be fueled by some kind of energy. But then, it's got interesting tricks to work with that, too: something I'll describe later.
You may want to think about lowering the cost of magic, too. Fantasy Hero suggests dividing the final cost by 5. It creates a slightly better balance between the fighter and the spellcaster paradigms. Something to consider.

Will mages have access to the Endurence Reserve power for their spells to come from, or will their castings come directly from their own endurance? Will there be various schools of magic? Will mages be making spellcasting rolls to see if spells go off? Will they need to have an appropriate KS in a school before they can even know a certain spell?

Just some things to consider.

-Psionics and Mutation: the powers granted by the Lord Atuhm and the exposure to his Cleansing Light (you know, radiation) tend to be fairly specific in nature. Gross physical mutations (extra limbs and such) are rare, but possible. More common are internal alterations: redundant or efficient organs, denser musculature and such. These are bought for the most part as higher physical attributes, though I've yet to decide how to integrate that with a Heroic-level campaigh. Atuhm's light also grants psionics, albeit of fairly limited scope. Broad-spectrum telepathy, for instance, is rare: more common is the ability to read your foes' immediate intentions.
You could represent the internal mutations as a bonus to a certain characteristc and the increase of the characteristic maximum for that characteristic.

Psionics are going to be expenseive if you use the standard schema for mental powers. Since I haven't run a mentalist yet, I only know the rules for those powers in passing . . . let me look at them tonight and get back to you.

-Shamanism. Hoo boy, this is the power set that's giving me headaches. Shamans can wake the sleeping spirits of human ghosts and hopefully coerce them into service. Ghosts can manage a fairly broad variety of tricks. Telekineses is typical, as is the ability to possess people. One of the more interesting powers that some possess, however, is the ability to inhabit and animate objects made in the image of humanity, like statues. Or robots. This, and their relatively easy access to another view of human history, makes Shamans typically regarded as enemies of the Steel Gods and unwelcome in their lands.

In fact, right now the biggest head-ache that comes from this setting is trying to define this last power in Hero terms. If it were just robots I'd define it as Mind Control, but since they can also animate formerly inanimate objects I was considering trying to buy it as a Multipower. But even then it's pretty weird.
You may want to represent these spirit powers as a VPP with a limited scope of powers that the VPP can create. It will give the Shaman the flexability to do the things you want them to, but a few limitations on the VPP will allow you to simulate the limitations they will encounter in using their powers.


Other things to consider. What are going to be your point caps?
AP, OCV, DCV, PD and ED (both normal and resistant)