Ok, so...regarding this major plot...
I know the following:
-The dwarves are gathering their soldiers in Ursiva*
-Someone really doesn't like alchemy equipment.
-The mage's guild is active in the area, as seen by their corpses and also the abundance of arcanite I've found.
-The elves are involved somehow.
-Someone has designs on the northern dwarven territories, or something in that area, as indicated by the telescope I found.
-The telescope was dwarven, indicating that Dwarves are involved in this little feud. Hot dwarf on dwarf action?
-While it may be safe to assume that the Guide to the Dwarven Lands I found was simply a means of letting me know where I was, I can't rule out the possibility that said dwarves, or at least their allies, aren't native to the area.
-Considering that I've found two copies of the same book, it's safe to assume that The Titan's Forge is a key part of the puzzle.
-It would appear that some sort of wandering portal, and its associated demons, has been let loose in the dwarven lands.*
*Ezriel does not know this
So what does this indicate, exactly? Nothing I didn't already pretend to know, really. Someone's got designs on the dwarven lands, magic is heavily involved, at least a small group of dwarves are helping them. The Dwarven nation is aware of what's going on, because I sort of doubt Melritch is so dangerous as to necessitate an entire regiment of soldiers being moved into his area (No offense).
It may be a good idea to make the small assumption that they're doing this in order to obtain control of the Titan's Forge, or at least one of the artifacts that has been forged there.
So what do I expect?
Indiana Jones style shenanigans, perhaps? I sure hope so, Ezriel isn't exactly Indie-standards but he could certainly be the Nazis.