you might want to try the
Image Loader Mod from Kaeza to import the outlines. Take note though that you get a flat result. You cannot import any sort of hightmap this way.
For large scale editing WE (WorldEdit) is really the best there is at the moment as that mod has many usefull features. WE will not help you to randomise the Landscape a little to make it look less geometrical though. So you will need some landscaping skills and enough time to create convincing terrain.
You could search for the old nodegun tool. It is quite usefull to add blobs of nodes here and there. I think it was in the Riven subgame. Might have been somewhere else though and might not work with the current version of Minetest.
Paramat wrote a
Landscaping by command mapgen mod. I am not sure how much control you have over the terrain creating details though.
A much more complicated sollution would be setting up a toolchain of several programs and scripts.
First use the
Worldpainter to create a map.
Export the result to a Minecraft map (yes that other voxelworld game)
Install this
MCEdit filter script
into an installation of
MCEdit.
Open the Minecraft map with MCEdit (you do not need any Minecraft installation for this!) and use the script to convert the part you need to a Minetest schematic file. Take note not to make it too large, or you may not be able to open the file later.
Create an Minetest map to your liking, for example take the
flatgen mod and create a map of water.
Open the map with the WE mod installed and import your schematic file of the island.
For the import process you may also want to study this thread:
Converter Minecraft world to Minetest worldIf along the way you come up with an easier sollution, be sure to report about it in the forum.
good luck