Personally (this is just imho) I'm a believer of nothing at all in the bio. Mainly due to the fact that my characters change quite a bit during play, their personalities change, their looks change, their equipment changes, they may even change what they tell people about their background.
So for me, putting anything at all in a bio is just asking for trouble, it's bound to end up wrong and you have to pester an Admin to change it for you only to have to go through the same process two, four or six months down the track.
You may start with a simple bio description with how your character has long flowing blonde hair and peircing blue eyes only to have IC trouble, dye your hair black and have to wear a hood and robe everywhere so when people look at you the description is so woefully at odds with what you actually look like it's laughable.
As for putting a short story in your bio, I find that a little too self indulgent
. No one can possibly know your life's history by looking at you and to include such an excessive amount of detail in a bio is just asking for Meta Creap when you play.
RP for more info? I recon a blank bio says that pretty eloquently, after all, you have gone to the trouble of deleting the usual guff that is there, you must have done that for a reason
I've seen some people put multiple descriptions in a Bio for the different modes the character operates in, awkward but sometimes works.
In Game Bio 
Linear Mode
