Well, first I saw your comment on the spawn point but I wanted to stress that nothing will spawn if it is left at 0,0,0. The Limit determines how many may exist at once, the Delay determines how long you will wait between each spawn. It is not scripted to spawn more than one at a time but you can put say 1 second as a Delay time and do pretty close to what you want.
The Decay settings are part of all RunUO Items and have to do with when and if the item dissappears from the world. Decays is set to false so they have no effect on this item.
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