Nothing will happen if you keep installing and uninstalling minecraft. Minecraft does not track how many times you have installed it nor does track how many computers you have it installed on. The only drawback is if you uninstall Minecraft by deleting the .minecraft folder you will lose all of your saved worlds on that computer.
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Once.
I tried many times, i dont know, but i know that when u install it, u install it as minecraft.zip, and i think its supposed to be jar. Or maybe im not right. Anyways the full 1.3 update comes out August 1, 2012. And i think that has to work.
We need to know what you mean by restart. Be specific when you ask a question. But I'll try to answer it anyway. If you mean making a new world, just open Minecraft, go to singleplayer and select "Create a new world". You'll start at the beginning again with no materials or anything. If you mean re-installing the game if you got some errors or bugs, just uninstall it and download it again. When you have bought the game once, you can download it as many times as you want.
No,you have to right click it a lot of times with a bone.
It varies. I, for example, got my Minecraft account premium in a matter of seconds, but in times of high server load or just bad luck the process may take hours or days.