Dwilight is the best! It is the biggest island, with the most realms, a quickly evolving political scene with three groups of realms vying to dominate the island, and lots of opportunity for advancement in nearly all realms. In addition, it is a one-character-per-account island. None of this nonsense of propping up your realm by having three or four families with two characters each in the realm, or the same set of people controlling two realms through having characters in each realm, or the inevitable information sharing that happens with multiple characters per island.
AT has lots of fighting. The sides have shifted a bit since 2007, though. Sometimes only the names of the realms have changed, but some realms have shifted sides altogether. Not the most dynamic political climate, but lots of fighting.
FEI is a bit boring right now. Not a lot of war. The Church of Sartan is on the rise again, and that may lead to some new wars. But for now, not much fighting.
EI is in a bit of a rebuilding period. The north (where Old Rancagua used to be) has been burned to ashes and Nivemus is still trying to rebuild the land. In the far south (Where Itorunt and Ibladesh used to be, both now dead) has been torched by Caligus and Perdan. The area is also trying to rebuild, but it is slow going. Westmoor (a realm where Oligarch used to be) just had Sirion declare war on it. We'll see if Perdan or Caligus rush in to help. Fontan just died, no idea what's going to happen there yet. There could be some big changes coming in the political scene due to all the new realms being formed, and the power vacuums being left by all the dead realms. Could be slow going, though, as the new realms try and get on their feet without disturbing the established giants of Perdan, Caligus, and Sirion.
BT... the fifth invasion may be winding down. Or maybe not. But the daimon armies are still kicking ass, and more realms may yet die before it's over. The political landscape is mostly dead until after the daimon Overlord is vanquished.