Mithril Spurs
Mithril spurs provide a minor boost to players' mounts by approximately 4 percent over normal default speed. This small difference can provide an edge if a player is being chased in-game by another player on servers where player vs player combat is allowed. In addition, the small boost makes travel a bit faster, cutting down on "dead time" getting from one location to another.
Limited Benefit
Spurs do not benefit every player in "World of Warcraft." They are frequently found with limitations that only benefit players below level 70. Higher level characters will get no added speed on their mounts, even if the spurs are worn. The best a high level player can do with such equipment when found is to just sell it or trade it to someone else in-game for something useful.
Consumable Status
Mithril Spurs don't have a permanent effect in game. They come with a limited amount of charges. So for even those players who can use the spurs for a speed boost, ultimately the benefit will expire. Players will need to search in-game or buy another pair with charges to continue their speed advantage on a steed.
Creation
Fortunately, Mithril Spurs can be produced if one has a blacksmith skill or a second character with such a trade talent. With a few Mithril Bars, a number of grinding stones, and the learned knowledge of how to make the product, a player can make a number of spur pairs for both himself and friends.