I don't know if anyone else knows this but bronze cuffs can be blessed and enchanted. I have charaters with ac in exess of 40. It is interesting though how small fish still seem able to bite me. I don't think there are any amulets you can bless but if anyone else does, let me know. Elves also seem to be not only able to learn skills fast but get better bonuses and hit pts.

Yep, cuff blessing is a well known trick. You can also enchant rings and armor.

As for elves, they learn skills 25% faster than others and get 10% more Xps, that's why you get the impression that they are faster. They're however, IMHO, the best race in the game.