Answers:
1. The list of items you can enchat is on doddler. Enchanting doesn't effect the balance of the game. Why? Because even the most worthless items cost upwards of 200k to enchant. the more useful ones cost 300k. The majority fail litterally 80% of the time. This means, statistically that you'll have to try 5 times to get one item slotted.
muffler[1] = 300k x 5 tries = 1.5m
On the market, a muffler likely costs less than even 200k.
Personally, I think all the slotting rates should be doubled, for the system to even make sense for this server.
2. I have a semi-decent laptop and I run lag-free so long as I'm not downloading anything. I lagged a bit during said event, but it wasn't anything game breaking. Others experienced it differently, though.
I assume you're asking these questions to decide if you want to join or not. I reccomend you join and see for yourself.