Okay folks. I got a baby Al-Vista (takes 120 film) a couple weeks ago. The lens look fairly clean. The four-speed spring shutter seems seems to work. The inside looks pristine except for a replacement red window and the outside isn't too bad.

My questions are as follows:
[1] What format does this really produce?
[2] It seems like I'll expose some film when I first load it. Is this correct?
[3] What numbers do I watch for in the little red window?
[4] Any guesses as to what the shutter-aperture combos are? It's a fixed aperture, obviously, but I have no idea what to guess for an equivalent shutter speed for each setting.
[5] It seems like the wood film "rails" are pretty rough. It looks like really cheap, poorly dried pine, painted black. Is this a problem wth the film?