1.The amp doesn't need a speaker load, so yes.
2.The original intent. A Line Out is for feeding another power amp, and a DI is for FOH use.
3.The worst that can happen is you'll send a super hot signal to the board. This won't happen when you're just practicing at home, but at a gig it happens. I carry a 15dB pad with me for whenever a soundguy complains, but most competent soundguys can work around it.
4.It doesn't have a built-in compressor. It has a built-in dual-stage limiter. It works and sounds and behaves like a tube amp. When tubes get hot, they start limiting the signal. Not a lot, but a bit. This amp does the same thing.
I'll put it this way: You'll never actually hear the limiter in the same way you can often hear outboard or pedalboard compressors.
The limiter is actually a large part of the magic of this amp. Whenever we've talked about the "weight" or "heft" or "slam" of this amp, it's due to the limiter.
When we talk about the magic of cranking the gain with a lower master volume to get that "feel", we're talking about the limiter.
Everyone who loves this amp, loves the limiter. Everyone.
5. This amp, with the 2 tone controls being set at Noon, is completely frequency flat. A straight horizontal line on a frequency graph. I've never found a more neutral amp.
6.Minimal EQ is also part of the magic of this amp.
Depth control has a hinge frequency of 100Hz. I think it's a shelving control, but I could be wrong.
Turn in up or down. Fairly basic.
Contour, however, is different. Counterclockwise, it's a midscoop, with the mid frequency in question being 300Hz. Clockwise, it's a shelving treble control hinged at 200Hz.
While that sounds like some questionable EQ design, it in fact is the most intuitive EQ system I've ever used.
Someone else in this thread made a comprehensive list/manual of everything the EQ can do with just those two knobs. It's kinda crazy.
Besides, if you want a "neutral" or frequency flat amp, why would you want/need it to have too many controls?
I think you'd LOVE this amp if you got to try one.
Many online retailers have good return policies. I got mine through Zzounds, and they have a 45 day return policy.
I hope my answers actually helped and didn't just confuse you more.