1. I use Hyper-V. I like it
2. Depends on RAM... I have 3 VM's with 8/8/4GB ram, host machine left with 6GB (24 total)
3. You can add roles to the host machine, depends on the resources allocated.
4. 1 Physical NIC per VM + 1 for the host, RAID 10, SCSI or SAS drives are better for performance, processing shared, Host OS on RAID 1 array separate from Data.
5. Really depends on the requirements. Always plan ahead.