Yes, wax will lower the drag coefficient of the snowboard.
Yes, definitely! Specially, if the it is exposed in the heat for long hours.
No it destroys the board.
No, not a good idea
Possibly, depending on how good the quality of your wax is.
Gasoline, or Paint Thinner
It helps you to go faster.
use the pad it comes with
You want to scrape of almost all the wax leaving a thin coat.
Some common snowboard accessories are goggles, snowboard wax, protective clothing such as suits and gloves, hats, instructional DVDs and helmets, they can be found in many stores.
Candle wax isn't the same as board wax. Candle wax can make your board stick to the snow, so just spend the extra couple bucks and buy snowboarding wax.
Totally. Just treat it like you would with hot wax made for snowboards. It actually works quite well, but it does wear off faster than specialized wax (my theory: no big deal- it's cheaper regardless, I'd rather spend my money on a lift ticket). All of the fandangled specialized wax is totally expensive and unnecessary not needed except for comps. To do this iron the wax and scrape it to a thin film. It can take quite a few treatments to saturate the base.