First things first: Bundle of Holding is once again offering its Ars Magica Fifth Edition deal. You can also still by Shadowrun Fourth Edition from them for another 9 days. I strongly recommend considering either; they’re both deals where you get enough sourcebooks for a campaign for the price of one core rulebook.
So, back to Shadowrun, which I bought last week and am still pondering. Fourth Edition’s rules are way less clunky, but having digested the material more fully, I think the biggest problem I have with the setting is that it assumes that, without a lot of work from the gamemaster, that you’re going to be a mercenary illegal immigrant in a U.S. megalopolis. Any trip to glistening corporate Japan or the jungles of the Amazon are just temporary gigs your undocumented slum-dwelling sellsword gets to pay the bills; at the end of the day, you’re back in Seattle or Dallas or Chicago or Boston in a crap apartment cleaning your smartlinked automatic shotgun for the next meet with the “Mr. Johnson.”
Having said that, the “I am a rootless armed drifter” kind of story works better for me not in the setting they have, but in another. I’d throw out the entire setting fiction (the year 2070, Dunzelkahn the dragon, the VITAS plague, the “crash of ’64,” south Florida seceding from the already-seceded Confederate states into the Caribbean League) and set it in an “alternate universe past” America of the 1970’s.
I just read Rick Perlstein’s social history of the 1976 presidential primaries The Invisible Bridge, and one of the really interesting things Perlstein points out is how chaotic the years 1972-1976 were for the people who lived through them. The Symbionese Liberation Army was active, as were dozens of other militant groups on left and right. America was discovering that the FBI and CIA were spying on or trying to kill nearly everyone. There was a meat shortage followed by an oil shock. 1974 saw over 80 terrorist bombings.
In short, drop elves and cybernetics in, and the only thing that changes about the 1970’s is people have more to be afraid of.