I just bought a rune book full of locations to the Lost Lands (out of curiosity). Can anybody tell me anything about these places? I can't remember all fo the locations, but a few of them were "Cyclops Valley" and "Delucia". Is the Lost Lands on some other island or something?

The Lost Lands are, I think, the first addition of new land UO got after it came out.

In Felucca, they are like the dungeons there; as in, you cannot recall in or out. you have to get to one of several passages that will let you travel in or out. There are Champ Spawns in several different locations in the Lost Lands Fel as well...

In Tram they are just like any other landmass, you can mark runes, recall/gate in and out, etc. There are quite a few unique locations there like the Ophidian place, City of the Dead, etc.

Papua and Delucia are the 2 towns in the Lost Lands. They have banks, tailors, smiths, etc.

The link below is a map with several locations marked and descriptions of them, etc.

http://uo.stratics.com/content/t2a/t2aplaces.shtml

There is a seperate Lost Lands for fel? I had no idea....

This is totally how I feel sometimes --->

What Ezekial said. But be careful of runes that you pick up. I have a few runes that are nearly instant death and one or two that are certain. I trust only runes that I mark myself. It is an adventure to find far off places to mark runes for yourself. Explore!