Personally, I think it is almost REQUIRED to have some level of danger and adventure involved. Fetish based RP is fun and great, but if it focuses on it too much, it will begin to get repetitive. It's a delicate balance to keep the fetish stuff happening and active, but not letting it become TOO active to make it boring.
And RP setting is only as important as the people that wish to partake. Some people work better in modern times and some better in a fantasy setting, etc. I guess most people are drawn to the fantasy setting more than others, so that is where I tend to lean.