1) Drow equipment? I'm no expert there since I have never used them before... ...
I just sell them, can anyone hear the *ker-chink!*? 
2) Take as long as you like,
, I completed all the Underdark quests to reap maximum rewards.
There is no time limit as far as I remember, I took my own sweet time and once completed the Mind-Flayer city and the Elder-Orb lair before talking to Adalon.
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If not a Sorcerer, then a Paladin.
