Electrum wallets are hardened with 1024 rounds of PBKDF2 as it says to slow down brute forcing, but even so, 796 is very slow. I can get about 15 kP/s off the bat without any optimizations.

Do you have a decent GPU? You can try adding the --enable-opencl command to your command line, provided you have installed the necessary dependencies: https://btcrecover.readthedocs.io/en/latest/GPU_Acceleration/

Correct. That will look for every combination of between 1 and 25 lowercase letters, uppercase letters, and numbers. It is hard to overstate how futile such a search is.