The card states Action: if you control at least one dagobah objective, put all creature units and enhancements from your discard pile into play.

Does this mean that when I play it, all enhancements immediately come into play and can be placed on units. Example, if I have Luke Skywalker in play and then play life creates it, can the cards: "Old Ben's spirit," "Luke's light saber" and other enhance character cards be placed on Luke? If so, this one focus card "Life Creates it" seems very powerful.

Another example, Dagobah training grounds is an enhancement. If I play life creates it, will all instances of Dagobah training grounds be put into play from my discard pile even though it is a limited enhancement. The reason I ask is because limited cards can only "be played" once per turn, yet Life Creates it lets one put cards into play, not necessarily "playing" a card. So my question is can multiple copies of Dagobah training grounds be placed in your play area in one phase with this card? Once again, this seems very powerful.

I think the card intends that creature enhancements (the spider) come out of the discard pile, not just any enhancement.

Indeed they do. A qualifier (such as a trait or affiliation) applies to all following nouns in the sentence. Contrast with the wording on The Desolation of Hoth, which is "Move any amount of damage from a Hoth objective you control to a target enemy unit or Hoth objective." There, "enemy" applies both to "unit" and " Hoth objective"; on the other hand, the second " Hoth " only applies to "objective". So it would put into play only Creature enhancements (and Creature units, of course).

This is the same kind of ambiguity that is present on Leia's Command :

" Reaction : After an opponent's conflict phase ends, deal 1 damage to each ready unit and objective controlled by that player. This damage cannot be prevented by shields."

There was a ruling on this that clarified that it should be read as "...ready unit and ready objective...". Here is what the FAQ says about such ambiguities:

Count on the Doctor to jump back in time 2 months to a thread that had been answered correctly.

(Sorry, the irony of a time traveler necro'ing a thread couldn't be passed up)