[Balanor]

Some clarifications please.

If you are currently 16-20, you will be reduced to a level 15. Will you be able to keep your current ranking at what ever faction you are in? Will you keep your noteriety?

Absolutely. To both questions.

Will the stats and everything be automatically converted to that level or will you be allowed to reroll the same character up to 15 to adjust skills?

Stats will be automatically converted to whatever you previously had at level 15.

In reference to the enchanting forge. You are a level 20 with 191k of exp, the difference between level 15 and level 20 will be banked. So you can use the banked xp for the forge and you wil get a warning if you are approaching a level drop?

Yes, that also is correct. The enchantment forges will now always give a warning if what you are trying to do may delevel you *before* you apply the enchantment. For a PC with 191K of XP right now, that means you have 86K XP available to you now to use at the enchantment forges before you may be in danger of being deleveled from level 15.