It should be released on Saturday and with lvl 72 cap which personally i really really like. Once they are done working on all the lvl 80 cap stuff they will release expansion.
Server has a very nice comunity and its deffenetly worth a try, anvil rates are fine if Grim makes farming harder (lowering drop rates or putting drops on harder mobs) then i agree rates should be raised but it was fine as it was before. People would mostly PK on their +7s and some +6s, very few had +8s. And the people that had all +8s had them thanks to GM corruption, an issue that Grim was very fast to resolve.
All and all you should give this server a try, its tons of fun.