Iron Ball cuts the Pokemon's Speed by 50%, and allows Ground attacks to hit the pokemon if it has Levitate or is a Flying type. It's only really useful if you want your pokemon to be very slow, for example to power up Gyro ball.
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The electrizer on Pokemon Diamond is used by Electabuzz to evolve into Electivire. To get the electrizer in Pokemon Diamond you must have inserted Pokemon Firered in the game boy slot.
The moon stone is used in Pokemon Diamond to evolve certain Pokemon. You can find one by looking in the Underground.
I Believe that in Pokemon Gold/Silver/Crystal,You can obtain celebi from Getting all the unknown. In Pokemon diamond/pearl, a child will give you letters for seeing the unknown. The letters can be used to edit what happens when your Pokemon comes out the ball, for instance, if i put the word "up" in the ball, when i threw my...charmander into battle, "up" would appear as he bursts out.
No I don't think so.
no it won't be holding a master ball cos when you used the master ball to catch a certain Pokemon, the master ball will be gone in your inventory because it is a consumable.