[quote="Zeromaru X"People seems to relate the Aereth setting with the Points of Light (in fact, the "corebook" is called Points of Light). There are a lot of fansites that put Punjar in Nerath.[/quote]
I can't speak to the fansites, but I have Points of Light and Points of Light 2 from Goodman Games. The introduction to Points of Light says the following:
Points of Light wrote:Points of Light is the default setting of the new fourth edition, a place where civilization exists in isolated outposts scattered throughout a dangerous wilderness. The vision of Points of Light is specific: Civilization does not consist of widespread nations and empires, but small city-states or groups of villages that have banded together for mutual support and protection. Between outposts lies only monster–haunted wilderness dotted with the ruins of a once glorious past and darkened by the ever-present shadow of the unknown. I was inspired when I read about Points of Light, and I found myself thinking: How far can I extend this concept?
Each of the four new lands presented in this product is designed to interpret the Points of Light concept in a different way. The people, monsters, and geographical features of each land provide a distinct flavor, and are designed to facilitate a certain type of campaign.
I searched through the books and didn't find a reference to Punjar or Aereth. Each book details four lands "are designed take place on the edge of the known campaign world," and appear to be intentionally generic. Even the 4e mechanics are only implied in the books, as they reference classes and levels that match 4e (e.g., the monster levels go up to 36 and are sometimes referred to as "solo" or "elite", but no other stats are provided).
Looking at a map of Punjar from
Punjar, the Tarnished Jewel, I'm not even sure where it would be located in Nerath. I don't see any obvious spot where it would connect to the Nentir Vale. Perhaps fans have worked out a spot for it, but I suspect they either adjusted the Nerath map or they placed the Aereth area map containing Punjar off the edge of the Nerath map.
I hope this helps!