I would suggest for any Dark Elf player on green to do the Janam & Rebby note passing quests in Freeport for a total of 18 trips, or simply go from level 1 to 4 off of them and consider it done.
http://wiki.project1999.com/Note_for_Janam
http://wiki.project1999.com/Note_for_Rebby
Doing this for at least 18 trips as an Innoruuk worshiping elf will allow you to buy and sell from the merchants, and the Freeport bankers are on the same merchant faction so this isn't so hot for a cleric but all sorts of great for a class that can eventually cast Invis to get past the guards in that zone.
At level 19, assuming you have your new tier of spells, trash your Grobb faction which is pretty worthless and get a free Forager Bag. The Troll in Innothule that sells Shaman spells will still buy and sell with you if that Grobb faction is dusted, so that takes care of concerns of selling while adventuring in Guk.
http://wiki.project1999.com/Forager_Bag
As far as gear goes, Small Banded is your best bet on a fresh server and there's really no need to learn blacksmithing as there will be a ton of smiths shortly after launch. However, consider making a level 5 Halfling Druid alt so you can pick up a free magic 1h blunt in the form of the Shining Star of Light.
http://wiki.project1999.com/Shining_Star_of_Light
Halflings level damned fast and Misty Thicket is an experience express lane for hitting 5. That character can complete the quest without any faction work at all. The mace can of course then be ground transferred.