(Seriously, what cards didn't get a LotR reprint
The two-ink Steel card - as if it could be anything else - is unique from many other item cards in that it must be banished to your discard pile to be used, rather than being exerted or having a passive effect
Not really, but it'll be a fun story (you can and should do this in Standard by the way)
To decks with high degrees of mana rocks and friends like Sol Ring, Voltaic Key, and Grim Monolith to stuff like aggressive decks that dont care about the mana, just the smashing, and use Armageddon to prevent you from answering their quick threats
Bearded Axe, on the other hand, is made for Dwarf decks
Unfortunately you cant reanimate the sacrificed creature thanks to the ordering of effects, and sacrificing a creature isnt part of the actual cost of this card