That is also the usual way for Russian: "У меня книга, велосипед и машина".
I'd say that this way implies an intonation emphasis on the very action of enumeration. Like: "I have the following: a book, a bicycle, a car". Not the most usual way to say this but quite possible., whereas in Russian it is said: "У меня книга, велосипед, машина".
Exactly. "У меня и книга, и велосипед." = "I have both book and bycicle." "И" should be put before each item of enumeration.If и is put between every word of the enumeration it has (I think) an emphatical meaning (I have not only a book, but also a bycicle and even a car).