You could set a steps payout structure in SNGwiz, and have a look. I'm too lazy to do it for you though. If you play steps a lot i'd suggest it.
1) no. It's not a typical satellite structure, so you're supposed to be tight, but not folding atc. Obviously getting 1st or 2nd place is way better than 6th.
2) if he's any good
3) w8 for an icm wiz to tell you

or do it yourself in wiz - if you have it.
I'd say pretty confidently that its a comfortable call, co n button aren't even that short. But like I said haven't done any ICM calc for it.