In my 3.5 campaign, there are no ancient artifacts, or ancient evil powers. All of those guys are beginning their ascent to power, and most of the humanoid races are just getting started in arcane magic (even the elves have only a 200 year head start). Divine magic has been around since the dawn of recorded history, but only at low levels. The gods are just now beginning to take more of an interest in mortals and are starting to hand out some of the higher level divine spells to their most devout (read: advancing their beliefs through force) followers.
Not much of a hook, but I got tired of the whole, "In ancient days of legend, gods walked amongst the mortals, and great wizards wrought mighty magics, redning the earth and forging items of amazing power...blah blah blah." I want the PCs in my game to be the ones that hack off Vecna's hand and poke his eye out, so to speak. I want them to be Feanor and seek to steal back the Silmarils, etc....