to 1: no - only with a smartphone or tablet
to 2: yes - notifications can be set via the app

yes, no.
it's not a smartwatch to set up. there are always new applications, but it can only be operated with your mobile phone and that's it. (gmail can show you unread mails, for example).
i think most people expect a lot of mobile-related functions, but it gets them itself from the net. just have a look at the homepage and check out all the current apps. it's still clearly laid out.