I just signed up today, so Im a noob right there with ya. But I am going to attempt to answer your questions.
1. (a quote from 1waylinks.com) "You currently have 1 blogs in the network. You can have a maximum of 50 blogs. Each blog you add to the system AFTER the initial blog will earn you 50 extra post credits per month."
2. You will receive 50 additional credits per blog you add to the network (after the first), so yes it can go up if you choose to use the credits.
3. Im curious myself about this question. I know that if you use all 300 credits in one month they will reset at the end of the month. But my question is, if you only use 50 credits, will you have 550 next month or only 300 (I would expect only 300).
One question from me. Does each additional blog that is added to the network require a separate IP address?
-NeoenY152 (Brian)