I don't know how depopulated LS is compared to other shards but depending on how long it has been since you've been gone, then of course the population is down. Mind you, there is a lot of new land area for the population to spread out in. As for events, virtually every week, four times a week there are community hunts
http://uo.stratics.com/news/LakeSuperior.shtml#newsitem1258378020,89351,
Community Hunt - Week of November 16th
Want to go hunting but don't have a big enough group? Are you looking for good guides to dungeons you've yet to explore?
The community hunts are open to everyone! Come show your support for the Lake Superior community and take a walk on the wild side at the same time. Meet some new and old friends and have a bit of a challenge along the way.
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Fan Dancer Dojo hunt
Date: Tuesday, November 17th
Time: 8:00PM CST
Starting Location: Skara Brae Community Center, next to the bank
Host: Taeara Mi'Aken
Community Peerless Hunt
Date: Wednesday, November 18th
Time: 8:00PM CST
Starting Location: Skara Brae Community Center, next to the bank
Host: Taeara Mi'Aken
Lava Caldera mini-champ hunt (Stygian Abyss Required)
Date: Thursday, November 19th
Time: 8:00PM CST
Starting Location: Skara Brae Community Center, next to the bank
Host: Taeara Mi'Aken
Community Champion Spawn Hunt
Date: Friday, November 20th
Time: 9:00PM CST
Starting Location: Skara Brae Community Center, next to the bank
Hosts: Taeara Mi'aken
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And remember, these hunts are for everyone, regardless of their skill level or guild affiliation. Come meet new friends, see new places, gain experience and just have fun.
Sabina Nikolai,
High Marshall, Community Hunt Organizer
The Order of the Silver Rose