1. No, people have reported getting the updatre at various times throughout the day.
2. No, you will get it eventually. Many people are reporting they have not gotten it yet in the News forum.
3. No, updating manually is the same as getting it OTA.
4. They will mostly likely give you a refurbed Droid.
5. Some people are reporting battery drain. Task killers and anti-virus apps (which should no tbe used anyway) and the facebook app seem to be the biggest culprits.
6. No, you still need to root and use something like SetCPU to overclock. However, the 2.2 stock kernel does allow overclocking to 800 mHz.
7. The update has 5 home screens (which I had already with Helix anyway), the ability to use Flash, the ability to update apps automatically or manually all at once, is faster (to some), and some other goodies. Nothing all that exciting.