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This map doesen't include physical terrain features apart from land/sea and very major rivers, though the rough locations of a few mountain ranges are listed. UPDATE 4/29/08: There is now a physical map available as well, with more complete terrain features, though this one provides a more complete picture of the local spheres of influence.
Each country uses a(n at least slightly) different color, but white always represents areas that are uninhabitable, unclaimed, unexplored, unknown to Black Steel, or some combination; harder colors fading toward white represent either disputed claims (e.g. between Rhedas and Ephinos; Rhedas has the upper hand in the disputed area, which is why it's shading to their color from white) uncertainty about the extent of certain nations (e.g. the depth of the jungles controlled by the trade network, and the extent to which "control" is the operative term, still isn't very clear, which is why the green fades toward white as you grow further from Llaesira's region) or essentially wild lands ruled mostly "in name only" (e.g. the Shalasa desert has always been claimed by Shalasia, and no one disputes the claim, but ... it's still just a huge, empty desert).
Shalasia (capital: Shalaton) was the first nation to establish diplomatic relations with The Scabbard, and Matrix has been ambassador there for years; she is also betrothed to one of this rich desert country's powerful Pashas, Pasha Fokahre, who controls the iron mines near the border with...
Espava (capital: Leziv) is where Matrix is currently stationed as temporary ambassador; she recently established diplomatic relations there after negotiating an end to the border war then brewing between Shalasia and Espava, but when Byriche (the new ambassador to Espava) arrives, she expects to return to Shalaton.
Arasta extends further north than the map shows; Dwiereth is currently ambassador there (recently installed, and mostly as a sinecure, and to help imply a greater presence and influence around the Broken Sea than Black Sail actually has).
Korv (Capital: Korv Harbor) is the strange and complex realm of dwarves and men out beyond the Edge (Thornton) and the jungles, where Thorm "Glib" Casati has long been ambassador.
Havandia (Capital: Virhas) is the large country southeast of the Scabbard that relies heavily on Grat'han slaves and is Black Sail's biggest competitor for export of jungle resources. Thragor is "playing ambassador" there right now, but there hasn't been a full-time embassy since Trevor was recalled to the Scabbard to work on construction projects.