I guess it depends on what 'era' of EQ you are talking about.
In the current series of stories, from Shards to the Wild Hunt to Searcher and the Sword, I've heard it said that it is equivalant to about the 1300's of Earths European history. Obviously then, Two-Edge's inventions immediately puts this society on the cusp of the Industrial Revolution. There is no telling the amount of social change and innovation that would occur from such a dramatic and disruptive leap forward.
That is part of my excitement for the SatS series; to see how these new 'discoveries' have started to radically change the human's world and then the elves, respectively.