Faerun is HUGE, and mostly very detailed in the novels, in the campaign map and i the "Forgotten Realsm Campaign Setting" -book (Read it, it`s a must for FR and BG lovers), so there are endless possibilties.
Personally I agree with those that prefer a completely new story, some other place than the Sword Coast. The Baldur`s Gate saga is LONG but extremely well done, but the saga is closed. Let the Bhaal spirit at rest already!! Perhaps we can revive him in 10 years or so (100 FR-years). After reading the drizzt books and played the BG`s, IwD`s, NWN`s dozens of times, discussing them forth and backwards, I`m really really fed up with the sword coast and all those crazy people, semantic bards, worgs and wolves, vampires, the Iron Throne, coal mines, the everlasting meddling between Icewind Dale-Waterdeep-Baldur`s Gate-Amn-Tethyr... yes, Icewind Dale has really been squeezed enough. If BG3 is set to Icewind Dale, I`ll hang myself.
I want the story to be set a TOTALLY different place. Preferably the other side of Faerun.. perhaps.. THAY! Yeah.. you could start as a slave in the land of Red Wizards, with regional ruler-mages that endlessly plot to destroy each other.. ruled by the baddest, meanest most intelligent vampire-wizard ever, Szass Tam. That endlessly attacks Aglarond ruled by this crazy Simbul witch (Elminster`s lover btw). If Aglarond falls, then the way is open for Thayan wizards and their undead armies to march through the inner Faerun. So.. it`s YOU who have to do something about it
That would be something. The Simbul (Alassra Silverhand) is a fascinating character, and there is written way too little about her.