Hehe, almost thought someone was restarting the old name gag again. But to answer your questions:
1) Yes, and now since ISP's are required to readily hand over data about major file sharers it is going to be a mess.
2) They wont find you unless they see that you are sharing all these songs. The main people they are hunting are people who share tons of music.
3) If you own the original cd and then convert them to MP3 format it is perfectly legal.
4) It depends. Most American labels have overseas contacts and signed bands as well, so it is assumed that they would want to protect those as well. So I do believe they would sue even though its in a different language. Although I believe they go after mostly the American bands since this is the Recording Industry Association of America