We had 2 channels before because we usually had 200-300 players online. These days it's around 100 so it's not really a good idea to separate players over 2 channels. More importantly, I am out of IP addresses because of the new dungeon and battlefield and you can't just buy one more IP address, they must be purchased in batches and the next batch is expensive. Until the server gets busier and players start donating again I'm not willing to pay for more.
Regarding lag, the only thing more channels does is reduce graphics lag from all the players in town. If anything, it increases overall lag because of all the communication between it and the main channel/dungeons/battlefields. We have far more crashes with extra channels too. A lot of the time, the elastic effect you sometimes experience is caused by your movement speed. I get it too if I set the GM speed too high. I might be able to do something about that but I'm still experimenting with it.
Once we start seeing 200+ online I will consider adding another channel again.