1) should be adequate
2) yes- it's very similar in appearance to IL2 but does have several things that are different.
http://simhq.com/forum/ubbthreads.ph...ml#Post3423371
is a good start.
Settings:- perception of what is 'playable' is a rather subjective thing, but high would be a place to start graphics wise.
Other than that be prepared to do some reading, partic on CEM- you WILL blow up 'several' engines at first.
I'd suggest sticking to one plane for a bit(109 or rotol hurri?) till you get the hang of it