Baron,
1. This "year-thing"was a union negotiation and I don't think there's anything actually binding that makes it so. Regardless there are quarterly intakes every year so expect more than a year on flexi at least. Despite MPL selection expect another panel interview with 'give me a time' questions and another psycho test having flown around for at least a year and a bit.
2. Nope, they scrapped this because it was 'never used'. Read into that what you will.....
3. Probably the only benefit with CTC, yes. But no security bond repayment.
4. This is never actually spelt out anywhere but reports suggest that your salary is decreased to the amount of the bond repayments for the year so in effect its a small tax advantage on the original value of your salary - that's it. So 'fully-sponsored' is a bit of a stretch, do not expect to see that money again. If you transfer out of the UK, no bond repayments.
"Maybe I should hold out for the FPP
" - That is an astute observation.