It was released in Japan in December 1998 with a promotional Dragonite card, while foreign regions had to wait a couple of years for their translated versions and a promotional Meowth card
Right now, I would say three, since that's the casting cost of many counterspells, but the number that matters is the one for this set
From there, finishers like Chronicle of Victory and Kinbinding turn an army of small creatures into a legitimate and immediate threat
Nowadays Equipment decks have been eating really good lately, with several mechanics introduced which help mitigate the creature/Equipment balance, reduce the mana awkwardness of both paying for the Equipment and equip cost, and making Equipment more efficient overall by just using colored pips
In Pioneer, Copy Cat represents a turn-four combo kill, and if you can make the mana work, a turn one Gilded Goose will potentially get you there a turn sooner