1. No. You can play it with software. But a MASPlayer or clockport sound card would decode the MP3 through hardware and take the load off the CPU.
2. It accelerates the IDE port. You don't need it unless you have some IDE devices.
3. Allows you to display native Amiga screenmodes on any VGA monitor.
4. What 68k chip is on your PPC card? (040 or 060?)
5. Yes.
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moto