What year is it?

[Ancalagon]

The "current" year in the Forgotten Realms seems to be 1491. However, the is no particular reason you need to set your campaign in the current year. Indeed, there are probably more detailed reference materials around from 2nd edition days.

Indeed. And in fact, I think that the rule set for 2nd ed might "fit" better than 3e, where you have the red wizards of thay selling magical items left and right. If that was still present, it would probably have to be seriously curtailed to fit the 5e magical item assumptions.