We don't know! You get to the island via a portal, and you exit the same way. The island has a map you can view, but you can't zoom out at all when you're viewing it, and it doesn't appear on the continent maps.
It's a mystery.
Does the fancy new DMF have any level restrictions? Are the quests/vendor items for level cap only? The idea of snagging cool pets and mounts and heirlooms on lower level characters and new servers is just too good to be true, I figured I should double check before getting too excited :3
Most of the games are available to players of all levels, and thus the largest source of game tickets are available to players of all levels. I don't think you can do the monthly profession quests as a lowbie, and the transmogrification gear requires level 60 to use/equip, but otherwise you're totally free to hit the Faire, play games, earn pets, and all of that sort of thing.
Tokens are a bit pricey for a low-level player, though (see below), so you may need an alt or a friend to bankroll your gaming for awhile. Hmm. That's very much like taking a kid to the carnival, isn't it?
Will the tickets that I've been holding onto be eligible to purchase new items?
Nope. The patch 4.3 currency is brand new currency. The stuff you've been sitting on will just be trash.
best/worst game there at dmf?
I enjoy Whack-a-Gnoll. It's frantic and fast-paced and emulates the real Whack-a-Mole games well in that way. I hate the human cannon game, because I can't aim my drops worth a damn. I'm sure you'll all be expressing the same sentiment in a few weeks when this thing launches.
Im confused. What do you buy with gold? The currency to redeem prizes? Or the currency to play games?
The currency to play the games. Each game requires one token to play, but since they're cheating carnies, it may take you multiple attempts to win at a particular game. You can buy a pouch of five tokens for 60 silver or a pouch of 20 tokens for 1 gold, 92 silver. Chump change for level-capped players. Pretty darn expensive for low-level characters.
Are the replica sets BoP?
You know, I assumed right off the bat that they would be, but I checked the vendors and that doesn't seem to be the case. It's all labeled bind on equip. It's possible Blizzard expects players to build a gold market for these items, which is pretty cool. It's also possible that it's unintended and the status of those items wll change before the patch goes live. It's the PTR, after all.
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