It's the cheapest we've found so far. In fact it's surprisingly cheap and maybe it will be withdrawn before the device ships.

All the evidence suggests that it is unlocked and non-crippled, but of course we can't guarantee that.

It means if you get a contract that doesn't include data, you will be charged up to £1 per day for internet access. If you get a contract that includes "web'n'walk", "mobile internet" or similar, you don't pay this charge.

You get a normal device warranty, but if you lose the phone or break it (e.g. by dropping it or wetting it) you would be charged the full unsubsidised price if you wanted T-Mobile to replace it. You aren't forced to replace it, but you would still need to pay the monthly charge for the remainder of the contract.

Correct. You can sell it, continue to use it with the same carrier, put different SIM cards in it, without restriction.

As you've not had a contract before, you should be aware of one more thing: you are normally expected to set up a direct debit arrangement for the monthly charge. This direct debit also collects payment for any "extras" you incur (e.g. calls above your included bundle, or calls to premium rate numbers, or data access while roaming internationally).

Regards,
Roger