Veksar  

If you're going from the manual (with a little from the game newly discovered in the Luclin expansion), you're mostly right up until the point where Sathir went on a rampage across Kunark. Before the Ring of Scale intervened, Sathir was growing old, and tried to make a pact w/ Innoruuk to become the lich he is today, but his first son Rile decided it was his turn, so he interrupted the ritual and trapped Sathir's soul which he hid away along with all the evidence, and he then became emperor. Rile continued to make the Iksar powerful, launching a great navy to the army. It wasn't long before he had a massive slave force of goblins, giants, and frogloks, and only one race on Kunark remained free: Dragons (go Veeshan!).
The Ring of Scale decided that at this rate things weren't looking very kosher for them, so they sent an agent known for his particular visciousness, the green dragon Trakanon. In what was described as a massive storm at sea, Trakanon sunk the entire fleet by himself and Rile, who was on his flagship, was lost at sea. The price was great, though, and Trakanon, who had been fatally wounded, crawled into a cave to die.
Rile's first son, Atrebe, who was not prepared for his inheritance to the throne, turned to the dark arts the Shissar left behind (*cough* necromancy) for power and guidance. Through the dark arts, he began a series of breeding experiments. His first success was the Sarnak, a cross between an Iksar and a dragon. His second and much more prominent success was the Sokokar, a mix of Froglok and dragon. With an air force of the flying Sokokar, the Iksar were able to match the wurms of the sky. Over the course of fifty years, the great Iksar empire did battle with the ancient Ring of Scale. Atrebe was succeeded by his son Ganak, who at end of the war, on his Sokokar mount, did battle with the leader of the Ring of Scale, Jaled'Dar. The victor was uncertain, as they destroyed each other in a blaze of power over what then became the crater known today as the Field of Bone (Jaled'Dar's remains can be found there). The dragons decided to retreat for then, but not before destroying Ganak's palace and all his offspring as a goodbye present.
Now leaderless, the empire tried to elect a council of officers instead of a new emperor, but it was no use. The empire broke down into its original FIVE (not seven, sorry) tribes and they tried to take supremacy by force. Naturally, when the slave armies rebelled, things were not looking any better. The Ring of Scale had also rebuilt and had secretly been meddling in each and every affair. The mass confusion sent the bulk of the Iksar people fleeing to the port city of Cabilis.
We're almost at the present date, so bear w/ me a little longer ).
From a defiled grave, Trakanon rose again, undead. The Ring of Scale turned him away, so he gained the help of the freed Froglok slaves and thoroughly cleared out the capital city of Sebilis, and claimed it as his lair. He and his Froglok army are still there today. But I'm sure you knew that already.
Rumors now circulate that Venril Sathir has indeed risen from the dead, undead and immortal, and has resumed his reign over the Iksar empire. Apparently Sathir has not come back alone. He has created a budding army of lycanthropic warriors, the Drolvargs, and continues to rebuild the Iksar empire, one day at a time.
So there. That should about cover it. A more complete and flavored version can be found at the following address under the link "A short history of the Iksar."
http://mikeshea.net/everquest/
Or just read the manual dude. Good night and may gawd bleth.