"Paragons" is a game being run by Kwyndig, using Mutants and Masterminds 2nd Edition and a variation on Green Ronin's official Paragons setting.
About the Game
From Amazon.com's product listing: Into a world hauntingly like our own come people with superhuman powers. Are they the next stage of human evolution, the fulfillment of ancient prophecy, agents of supernatural forces or something else entirely? Paragons features a world grappling with the existence of powers beyond human understanding, and what happens when that power is placed in the hands of otherwise ordinary people. How will they change the world? How will you change the world?
The 'real' world of Paragons coexists with a place called the Imageria, a realm of imagination where beings from myth and literature exist and interact. Roughly analogous to Promethea's Immateria or Wildstorm's Garden of Ancestral Memory, the Imageria is apparently the source of the reality-bending paranormal energy that powers superhumans.
Characters are designed as regular humans at Power Level 3, with 50 Power Points with skill caps appropriate to PL 10 characters.
Upon 'breakout', characters are granted an additional 100 Power Points, enough to bring them to PL 10. Some of these points are kept in reserve, as part of a 'mystery pool'. Since regular people are not combat powerhouses, it's usually advisable to improve attacks, defenses and saving throws with some of these points. To date, all powers gained at Breakout have been assigned by the GM.
All Paranormal characters are required to take the following power, this costs them no points but does increase their total:
- Super-Sense: Paranormal Awareness-visual/mental - Base Cost  + Accurate  + Acute  = Total Cost 
The Innate Power Feat is restricted.
New powers are restricted to effects thematically related to a character's existing abilities, and the suggested Alternate Powers from the core book.
Power Points are earned via time spent, and by killing other paranormal entities outside of the Imageria, or in the Black Room. Mundanely earned PP may not be spent on powers.
Mystery Points, or: Spinning the Wheel
Completely new powers may be gained by unleashing the potential of a character's subconscious. The player declares his intent and a number of unspent 'mystery points' to use, and the GM semi-randomly assigns a new power based on the following criteria:
- The power will be somehow useful to the situation, and automatically succeed the first time it manifests.
- The power will most likely be accompanied by an unpleasantly or dangerously limiting Flaw. These flaws may be bought off as the character advances.
- Brent Davison, frat-boy and super-speedster. Son of a US politician, ego-driven, and not afraid to kill other paranormals to boost his own power. Played by Soonmot. Status: Active
- Julia Hood, novelist, ex-journalist, culture geek. Her powers have been revealed to be control over "Creation's Flame". Tends to draw pop culture parallels and philosophize in terms of narrative structure. Played by Bieeardo. Status: Pretentious
- Campbell Cain, con artist, force field projector. Played by LordThorn. Status: AFK (Campbell's player dropped out without warning in early January, 2008)
- Dr. Ami Zhou, polyglot, member of Doctors Without Borders, telekinetic. Often at odds with Brent. Played by Robodog. Status: Active
In July 2008, several new PCs were added to the crew.
- Phillip Waters, Sandwich Artist, dimensional manipulator, skeptic. Highly philosophically resistant to the idea of real superheroes, Phillip remained nonetheless active with the group. Played by Eela6. Status: Sober (Eela6 left the game for RL-related reasons.)
- Lawrence Madison, stage actor and telepath. Talents include mind reading, emotion control, and memory photocopying. Played by Zelmel. Status: Onstage
- Adrian Bell, transmuter. Played by Gnoma. Status: Lost in the Shuffle (Gnoma kind of vanished after a few posts.)
- John Donnelly, aka JD, troubled ex-cop, control of personal density and elasticity, quite possibly the Once and Future King. Played by navyjack. Status: Questing
- Byron Rhodes, once-disgraced politician, reincarnating immortal with control of electricity and weather. Played by Admiral Lasers. Status: Apotheosized (AL retired from the game, citing a weakening grasp on his character.)
- Anton Meyer, drifter, argumentative Utilitarian, Animal Mimic. Status: *eyeblood* ( Bitchkilled )
Not an exhaustive list, but merely a start.
- Jane Haskill, born super-genius, multi-billionaire inventor, apparent Science Related Memetic Disorder sufferer. Status: At Large
- Jane-2, robotic duplicate of Jane, wearer of Tungsten Woman armor. May or may not be stable. Status: Keeping the home-forges burning
- The Dynamic Duo of Maria and Chrys, sidekicks to Dr. Zhou, refugees of the US Paranormal Registration programme, mutually romantically involved. Status: Not what you're thinking
- Rätsel Feinschmecker, light-controlling (and possibly composed of same) paranormal, leader of the Swiss Paragons initiative. Status: Making me remember the alt-code for ä
- Zero, end-of-things made manifest, ultimate big-bad-guy. Hobbies include replacing people with duplicates inhabited by his mind, Burly Brawls, and being darkly illuminated. Status: Updating Facelessbook