If I recall correctly, the level range was 30~50, and I believe the Pendant gives 2 to all stats. I could be wrong too, though. I don't know much else about it, other than the Pendant that you get is spiffy and tradeable so higher level people can still acquire it by some means.
Also, Showa has the Parking Lot to train in, which I believe we had discussed elsewhere had high potential to be decent for a Knight.
What I'm looking forward to from this patch is a day or two with fewer hackers, and hopefully, reduced lag from such.
Even if it is tradeable it still kind of stinks considering you either would have to pay for it, which would probably be a lot considering you would need 500 pq wins, or make another character and get 500 pq wins.
Then again, I guess it would be unfair for a party of 6 100+ going against a party of 6 level 40s =/.