Cut the guy some slack! It's his first post and you just go off scaring him away.... oh well....keeps the servers clean!
From what I understand is that it makes some games load a lot faster. However I also heard that you couldn't play games with it on (Or maybe I read something wrong)
I don't think you could set up and play games one on one against a friend (I'm guessing you mean a game like Socom?)
It works and it is fairly easy to set up (At least that's what I read)
Don't have a clue about the harddrive fromat.