Rates are increased, but.. yes, if you want other gear then the basic ones you'll have to level a bit.
Or you could always roleplay here for a month, write a character profile (and do the questionnaire, aka gruntship) and be turned into a 80. /nod
Well, be sure to read the stickies and guides and what not, and welcome. Harr. |;>
Yush, if you want. You can also decide to level up on you're own afterwards, doing quests and stuff but I was too lazy for that. Harr harr.
Rules
Policies
Server Lore <- Not really a requirement, but handy as there have been big events changing CotH from regular blizzard lore.
Required Introduction <- Be sure to only post one of these.

And yes, it's required.
Not sure what else straight out of my head as I just awoke, but the
CotH wiki! holds all the info you would need.
Okay, here is how it works in a bit of detail...
As a peon (Someone with an account on the server) you can level normally to level 50 if you want to. You cannot level above 50 until you become a grunt and have a profile approved for said character (Then you're leveled to 80 anyway).
To become a grunt you need to be on CoTH for a month, be active and roleplay. To have a profile approved you need to write one up according to the guidelines you'd find in the Wiki.