Reynolds, 1: not yet, 2: yes but bringing friends is better, 3: TBA and 4:Not as simple as 1,2 and 3.
Go offline and from clipboard- left click Options>Arena Setup>Environment>Arena Settings. Scroll down to FlightModeFlags and double click on it.
Change the Auto Calibrate Bombsight to un Xed and click OK.
You can also select the Precision Bombsight at the same time. This will give you a green crosshair that will show you where your bombs will fall. Use it to check how well you calibrated. Once you get it down, turn it off and practice without it.
The difference between the "old" bombsight and the no-brainer is you must track an point on the ground with your cross hairs for few seconds(3 minimum, 9 better) while holding Y. You also must be at the same alt and speed you will be droping at(or be good at "windage", adjusting you drop to allow for a small change in alt and/or speed).
The other difference is you must Shift + Left click on the intended target on the map while in calibration mode(after the first U is pressed). The bombsight does not follow changes in terrein elevations like in the MA.
If you taget is at sea level you can do all this out at sea. Even click on water to set target alt. But all bombers gain alt and speed for a long time at full thottle even in auto level, so you need to either reduce power to maintain alt and speed(settings depend on the bomber) or wait till you are on final to calibrate(best).
But the target alt select can be done as soon as you level for speed. If you do it while you are climbing it will throw you into auto level. When you level off, just go to F6, hit U and shift+left click on target and hit U again. One less thing to worry about on final aproach.
I know it sound complex, but a lot of us old hands got good at it and it more closely resembles the way it was really done back then. I find the new way distastful and without reward.