The current character creation system is using:

1. 25 point buy (no sub-10 stats except due to race penalty), plus 1 ability point for 4th lvl. (for new characters only). 1000 gp starting money to buy equipment, plus 2250gp worth of magic items.

2. Any races, classes, feats, traits, and spells from the Pathfinder RPG books, including all Chronicles and Companion material. Material from the 1st ed Pathfinder Campaign setting is for 3.5, not Pathfinder, so I am considering that as outside material, at least until the Pathfinder version is released later this year. Other classes, spells, and feats considered on a case by case basis by the GM. In general, I would prefer everyone use Pathfinder only and not 3.5 material, though I will consider individual requests. Other specifics:

Aasimar and Tiefling are approved as races.
Scout from Complete Adventurer is approved as an additional class.

3. Create a backstory (GM can help with setting content), post your character info under the players’ section here on the wiki. Those without a backstory cannot advance in level until one is created. You may select one trait from the traits handout on Paizo website or from the Rise of the Runelords Player’s guide.

4. Create a backup character and post your class and race under the gaming group section for backup characters. The main reason for backup characters is so the GM can work them into the NPCs in the storyline, that way, if someone switches in midgame or dies and has to go to the secondary character, he or she is not new to the party or storyline.

NEW!
5. New characters start at the level as the party. Replacement characters due to death or player preference will now start 1 level behind the party. Replacement characters will level at their own rate and catch up to the party in about 1.5 levels. This rewards players for keeping their characters alive and offers incentive for staying with the current character.