These are just some of the very helpful things you want to know for PoP and I would advise visiting the wiki.
When you ask the travelers in taverns for rumors (costs ten monetary units) they can give you the location of a Red Brotherhood Hideout with a chest filled with random loot (can have a Qualis gem). There is a hidden chest in Valonbray (on a ship) with random loot. There is a hidden chest in Rane (in a haystack) with a Qualis gem in it. Qualis gems are valuable items that allow you to purchase special items or troops. When Wolfbode the Slayer spawns and you come near him you will be given one of the most powerful bows in the game by a god. The Noldor will give you very strong armor or weapons if you win a tournament there.
Originally posted by DeathbyFood:what should i be aware of and so on? :warlord: The Noldor will allow you access to their castle if you have good relations with them and complete the quest given to you by Quigfen in Laria (only given once you have good relations).