So far, the premise is:
Magic exists, but is mistrusted by most
Monsters exist, but are rare.
No non numan PCs, but social class will fill the mechanic

So we talking Excalibur (1981 film) style Arthur or the "realistic" 2004 film  King Arthur

My thought currently is "legendary" king arthur, so probaly more like the '81 film.  there is magic, but rare.  Monsters for knights to fight, but more often it will be bandits or "bad" knights

Legends of Excalibur had 5 social classes, but since SW had 4 wealth levels, that works for me

In LoE, there was a score called nobility, which you started with based on your bloodline, and it changed based on your actions, not unlike Status in rippers.  It also determined started money.  I don't have any of the toolkits, so I'm not 100% sure how to blanance the bloodlines, but I'll take a shot

Bloodline:

Base/Criminal/Common/Serf
Physical lifestyle: Pick one d6 ST, D6 Vig, D6 agility
Pick one of (Alertness, Acrobat, Beast-Master, Danger Sense, Fleet-Footed, Thief, Quick)
Poverty

Middle Class
as "human", bonus edge only

Lesser Nobility/Peerage
vig d6
Rich or Knight
Oath of Fealty (oblication)

Nobilty/Royalty
Noble
Filthy rich

Oath of Fealty
Something else

knight is like Noble, but instead of the Oblication they have Code of honor

This game ever go anywhere? Sounds like fun.

I've been reading The Pale Horseman by Cornwell, lately. It's not his Arthurian saga, but the one about Alfred the Great vs. the Danes.
Made me itching for some old-english game... ;-)

I JUST picked that up and was gonna start it today, I'm glad to hear you're enjoying it. I also just picked up an RPG entitled Chronica Feudalis which is a great little system for running midieval european games. It's basically a cross between Savage Worlds and Fate. I highly recommend it for a midieval game.

Here is the website in case you're interested.
http://chronicafeudalis.com/

It was just some notes on a different type of fantasy game.  I put it out to spur some thoughts but never went father than that