1) When you link them up using replication, you can go to Admin -> Servers -> pick the replication partner, right click, select Edit. From there, you can enable to replication of logs, client packages and also the Liveupdate contents
2) I'm not sure on the licensing side, so to play it safe, you're advised to call Symantec licensing for confirmation.
3) Yes, and yes. All configurable when you set up the replication.
4) If you enable the replications of the clients package, youc an deploy from there at its local site.
5) To my best of knowledge, no.
Hope this helps,