I remember reading somewhere that the Koronus Expanse was discovered at the end of the 40th Millennium. I imagine that this would create a sort of massive influx of people similar to the California Gold Rush of 1849. People seeking riches, or perhaps just seeking to escape the densely populated hive worlds.
I'm planning to set my game around 200.M41. There have been some settlements (those shown on the map at the front of the Rogue Trader books), but they are generally ill-equipped, so plenty of opportunity for the rogue traders to trade stuff for profit, and plenty more uncharted space left to explore.
What about you guys? Do you set your games during a certain "era?"