You have an extra set of legs.
+8 move speed (+5 per level)
+6% carry capacity (+1% per level)
- Inceased carry capacity to carry loot (also helpful for utilizing very heavy armour/weapons)
- More move speed to keep your character alive and help you engage enemies on your own terms
- Extra equipment slot
- The cost in MP is pretty steep at 5 points
- AV and DV are averaged (rounding up) over both pairs of feet