welcum to the forums.
1. sometimes i rip dvds with mc. mc can not, as far as i know, take away that fbi stuff. but i use an other little programm to take that and all the securety crap (yeah, i bought them) away, and that seems to work great with mc. the program i use is anydvd. it is not free. paid once and all the updates after that are free.
2. no its not possible. would be very nice though, especially when it would also work that way with mkv tracks.
3. guess so, maybe it depends on what 'what ever' is
4. yes there is an equaliser inside.mc, beside some other nice dsp stuff. but that is for audio only. for videos you need to install some codecs. one possebility is cccp (look in the wiki for that). cccp has an equalizer.
gab