there are many questions in one line, let me answer:
1) you can technically upload your whole music collection, though assuming you have a lot of files you should probably wait until we enable a multi-file upload script (around the corner)
2) we won't get in trouble? if we handle it like Megaupload did, we WILL get in trouble. Just like any hosting provider we are forced to treat any copyright violation request from 3rd party/majors/MPAA etc. But as stated in the T&C this is a private upload space.
3) You can share the links with anyone. If you want to keep the files to yourself only, there's an option that will make your file(s) available to your account only, that means no external users will ever be able to see/download your file, even if they happened to guess the URL by miracle.
4) they don't need to register or anything to download or view. And there is no wait time, no captcha, no popups.
The site is solely supported via adverts. If the advertising revenue is sufficient, in the future we will implement a redistribution system, money will be distributed to users who uploaded files with high amount of downloads. But to avoid warez/copyrighted content issues, people who wish to receive money as part of the redistribution system will have to *explicitely* authorize our staff to verify the files manually to see if no illegal content is being shared. Makes sense?
Sounds good. What if DMCA or some other copyright holder complains about illegal content shared even if we're on a private space?
I'd really want to know this, seeing as GBATemp as whole has no replacements ..