1. The stall varies on all stock transmissions from application, but don't expect it to be over 1800.
2. Depends on how the previous owner took care of it. Look at the fluid and smell it. If it is bright red, and has a stale smell to it, it should be fine pending any other internal valvebody problems. If the fluid is brown and smells burnt, maybe you should look elsewhere.
3. Depend on what you have intended it for. If you want to stick it behind a mild small block, stay with the stock style converter. If the cam is larger and you have performance mods to the engine, go with a higher than stock stall will be fine. Something in the range from 2200-2800 will be more than enough for street use.
Keep in mind, not all 700's are created equal, ask him/her what the trans is coming out of. If it is anything with a v6 stay away, especially the 2.8, those will not even bolt up to a small block. The 4.6 will, but most of those are not intended for anything heavy duty. The Corvette and full size truck transmissions are what you are after. Unless the trans has been rebuilt from stock, then the door is open for anything you may need it for.
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71 short/fleet ECE 4/6 drop, LQ4/700r4/3.42 gears
70 SS396 Chevelle 427/200-4R/3.73posi
61 Lincoln Continental, black on black
Son you are going to drive me to drinkin if you don't stop drivin that hot rod lincoln
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