1 - I believe there is only 1 right now called Wolves Den or something. Just a 4v4 arena. Ive read somewhere of plans to add new stuff, don't quote me because im too lazy to find proof haha.

2 - No real money shop that i know of since you pay monthly. There is an option to pay like 2 dollars less a month but you can only have one character. (Doesn't matter too much since you can have every class on one character).

3 - Leveling up was interesting. Had a pretty nice story (people have different opinions). You can go about it diff ways. Queuing for dungeons, grinding, questing, or spamming fates. Or even a combination of everything. Also they have these things called Battle Leves that are like little quest you can do over and over. The world is beautiful so exploring everything is nice, but it is a bit linear with many boundaries and worst of all everything is zoned.

4 - Not sure of a price cut, i remember them doing one for Christmas i believe.