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Btw @OP, since you seem to know your way around:

Is there a convenient way (read: for someone who only fooled around with the Cosmic Forge editor a bit) to change class/race names and descriptions? And how do you import custom item images (not the 3d models, only the inventory images), which obviously has been done a lot by various mods?
Just to not have this lost in my thread, I'll make a new thread here. First, a lot of questions can be answered by searching at postcount wizardry site. But to answer your specific ones...

In the editor:
There is a menu option called "String Editors" and a sub-menu of Interface String Editors... There you will find all the text used in the game. Search and replace.

There is much more information on item images around the web. I am not really a graphics person, but you will need to search and download the STI editor. Those images are saved in STI format. The STI editor can convert a bitmap to a .sti file. So, create your bmp, open it in the sti editor and you are on your way.

Google search this: Qusari-WIZ8-tutorial-sti-items and there is a power point to walk you through the finer points.
Thanks, that helps.