I think I'll go with one subsector right now. 40 or so worlds are more than enough for interesting adventures and a great variety of locations, especially since most new (or refurbished) ships are Jump-1 (and Jump-2 is expensive).
I'll definitely develop the general outline of what goes on in the surrounding subsectors, though, with focus on the Risar subsector - the Restored Alkonost Republic's "Backyard". But even Risar is mostly Outback, with the only 'civilized' area being the Incunablis Machine Empire in its Spinward-Rimward corner and the ultra-militarist Risar Protectorate. So the most active recovery takes place in Alkonost.
I'll definitely develop the general outline of what goes on in the surrounding subsectors, though, with focus on the Risar subsector - the Restored Alkonost Republic's "Backyard". But even Risar is mostly Outback, with the only 'civilized' area being the Incunablis Machine Empire in its Spinward-Rimward corner and the ultra-militarist Risar Protectorate. So the most active recovery takes place in Alkonost.