I just had a gaseous steam cloud show up at my fort, but fortunately it spawned outside my walls.
I've been working on a hard metalbashing strategy in which the first step is to dig down to a cavern, find an open spot in the cavern, seal it up with walls from top to bottom, then dig down to a magma ocean and build my magma smelters and forge on top of the magma ocean. Farming takes place on the muddied cavern floor, and in the process of digging down to the magma ocean a lot of ore is exposed. All my worlds have higher volcanism, so I don't know to what extent this affects the magma and cavern layout.
So far it's worked twice and failed 3 or 4 times. It turns out that you have to be very quick to seal up your fort once you've breached the cavern, as cave denizens thoroughly enjoy dwarven flesh. Troglodytes and blind cave ogres can potentially be dealt with if you have a military dwarf or two, but the sheer numbers and the occasional giant olm have spelled certain doom for several expeditions.
To speed up the process I basically have 2 miner dwarfs and then have the rest work masonry until the cavern is sealed. I previously made do with 1 or 2 masonry dwarfs, but they weren't quick enough...
Also, I'll point out that I've had 3 flying forgotten beasts spawn, and so far they've all been in the caverns outside my fortress. The thing that worries me the most is a beast spawning directly in my farming area - I don't think the dwarves would survive long.