The mana advantage from that point forward is virtually identical to the real thing
Limited Packs (Drafts and Sealed): Duplicate protection is not applied when you open a 14-card pack in a Limited Event - you will still see and be able to pick any rare or mythic rare card, even if you already have four copies of it in your collection
2017-06-27 If the card copied by the token had any "when [this permanent] enters the battlefield" abilities, then the token also has those abilities and will trigger them when it's created
Its great on turn one or two to kill off early mana dorks, but its also effective in the late game as a cheap enabler for Dictate of Erebos or in the midgame against Timmy-style decks that drop a single threat each turn
Nekusar, the Mindrazer Nekusar, the Mindrazers one of those early-day commanders that still sees plenty of play
There are reasons, of course in the rare tournaments where Black Lotus is legal, it is an unmatched trump card, allowing a player to skip ahead to cast their most powerful spells on the first turn of a match