Alright, so one of the bigger draws of the rules is to generate your own petty fiefdom to terrorise the locals.
So let's do just that and see how it goes.
Our character
First and foremost, we're going to need a noble to lead it all:
A few rolls on the tables and we learn that our noble is Young, is motivated by religious zeal, is unmarried but with a sprawling family tree.
So sounds like we'll be fighting heretics and unbelievers.
We need to also know what his skills look like.
Our martial prowess is "Experienced". He's been in the field before, even at such a young age, probably from a family of crusaders. This lets us bring 12 men into any given battle.
Stewardship is "Misguided" however. This will cause us to lose 1 point of Wealth per turn. Having a contempt for worldly matters probably isn't good economics.
For an extra twist, our noble trait is "Bastard". Now, I guess we know why he has a chip on his shoulder.
With Sir Friedrich in place, let's see what our fiefdom looks like.
Home sweet home
Defenses are largely non-existent as a result of recent conflict.
This lowers our Balance of Power to minus 1 (starting at zero).
Somewhat unsurprisingly, our influence is quite limited as well, though we do control two medium sized towns.
This gives us a force pool of 15 men, which is the most armed forces we can have at our disposal in the campaign.
We've managed to drive out lawlessness to the fringes of our fief, giving us an initial Dissent of minus 1 (also starting at zero).
Rolling for our initial troops, we have a reasonably professional force of 5 retainers and 5 levy.
Due to our command rating, we can only bring 8 of them into any one conflict and we can recruit up to a total of 15 followers.
Luckily, our family is somewhat okay money-wise, starting us with 3 Wealth points (though that will vanish quickly, unless we are lucky with the looting).
Finally a roll on the "Recent events" table indicates that we're a new arrival to this fief, maybe installed here by a family member to get out of their hair?
This reduces the Balance of Power again (to a minus 2) and raises Dissent by 1 (to a zero).
A roll on the flash point table tells us that this fief is a strategic location, so that is our jumping off point to begin the campaign.
Conclusions
A hot-headed, young and often ridiculed noble with a furious zeal and a lack of interest in worldly matters, in a frontier fief with a somewhat unstable monetary situation.
Seems like the stuff of legends ..or tragedies.
Hope this helps show you a bit of what can be done within the rules.