Hi there.
I have been a leecher for quite some time now but I hope this will be the end of it and I'll try to contribute more as I find anything interesting.
Some months ago I found a place in the Caverns of Time where you could actually jump into nothing. As I always fell to death I didn't pay attention to it anymore. Now with my mage I got bored yesterday and went back to this place to do some further exploration with slow fall. I discovered that you can get under the sea in a watery area with no breathing required. You can swim down there but you need to look out for some places in between with no water which will make you fall to death if you can't get around them with slow fall or anything similar. I managed to swim down until I crossed the border which will kill you and I hopped around between the different watery areas down there. Maybe you can get even further. I don't know what else to expect down there. Another problem should be the border to the sea which you can't see as the textures are only on the "outside". So if you cross them you will start breathing and/or get fatigue.
Now less text more pictures. Here we go.
Use the way I painted in. It will get you up to the hill.
Now this one is a bit tricky. You have to be in a line with the edges of the hill and the hut and jump as late as possible. I used to do it with my pally but other classes could get problems here. Use Noggerfogger/slow fall, mount up and jump if you don't get it.
If you were able to do it you should be here. You can go explore this area a bit but I found nothing interesting. I think it doesn't really matter where you jump off. Just face in direction of the sea and be sure you are mounted. Slow fall makes this part very easy. You will then end up in the next picture if done correctly.
This one is the watery area you will fall into. I turned the camera to the sky and you can see some mobs here if you look closer. I think you can also swim up and cross the landscape to be on the surface again but I didn't test it.
Now you are free to move but as I already said: watch your step. The watery areas can end and you will fall to death. No problem with slow fall here, you can just activate it when you fall and then slide into the next watery area ... hopefully
I hope it's no repost. I couldn't find anything like this.
Have fun