He, he, he, that's a bit scary Maria
On the last known Jedi must be just past the intro sequence since the first person you meet is Kreia and she's a Jedi, so really the whole no other Jedi thing is a bit of puzzle for me.
I agree with GhostofAnakin that from the character's perspective the death of Bastila would be completely irrelevant. The storyline concerns is precisely how I perceive she might show as an npc or in the least in a cameo. As I read in the questions to the devs and the articles of various magazines and previews, your alignment, sex and the events you input into how KotOR 1 ended all affect exactly who your party is made up of; say you killed Jolee and Juhani at the top of the temple in the unknown planet and put that into KotOR 2's storyline, thus neither would show up in KotOR 2, but if you were LS and didn't kill them, maybe one or both appear either as npcs or cameos in KotOR 2. So really Bastila showing up ingame is just a metter of telling the game she was alive at the end of KotOR 1. And she doesn't have to have been romantically tied to Revan at all, as I recall I could refuse pursuing the relationship at any time (I did in DS ending though took her for apprentice) so her connection to the new PC in KotOR 2 can also be modified in the same way as her appearance in the storyline.
The fact about her strength can pretty much function i the same manner as Baldur's Gate worked, the PC ended up being pretty powerful at the end of BG1 and he/she remained the central character in BG2. Fact is no matter how strong you are, there is someone else always stronger. And Bastila doesn't even have to appear from the very beginning anyways, depending on how long the game is and what kind of relationship you can develop with her she could appear mid-way through or (in case of romance) in the second world, Taris sure took a long time in the original and meeting Bastila in the equivalent time it takes to fully finish all the quests and reach Dantooine is a fair amount of time where a lot happens. Still, I hope the devs in Obsidian do like the Bioware devs did with KotOR and put up small character bios so we can know who shows up ingame.