Yes. You can continue to run your board normally. Then, if you want to get technical support, services and download the latest version, just pay the $25,00 fee to renew your license.
1 - Pretty easy. You can do it yourself with the free converter (http://www.invisionp...ard/convert.php) or buy a conversion from IPS. They will do everything for you.
2 - No problem here. Seriously. IPS ALWAYS honor their licenses (past, present and future).
3 - You can try the demo. See for yourself: http://www.invisionp...oducts/demo.php