D7 Store: What's It All About?

So I'm wondering and reading what other people have posted, but I haven't read any serious discussions about what the Store is intended for. Perhaps it's so obvious, that I'm missing it (and this has happened to me before). Here are some of my questions about it.

1. Is the Store intended for digital products only, or is it possible to sell a physical item that would need to be shipped to the buyer.

2. Presumably "Products" are different, or kept apart, from other types of files. These products have properties such as Price, that a normal file does not. Could I sell a normal audio file rather than to have to upload it again as a "product"?

3. How do membership fees fit into the Store? If I would like to sell different membership levels, how could I add these to the Store?

4. Presumably any member can sell products. When I add different products from different sellers, upon checking out, how does my payment get distributed to the sellers?

5. Has someone posted any useful demo of a D7 Store? I see just a few products available on the Boonex demo site.

6. The Cart seems so hidden under the Dashboard. Is there another link to it somewhere that I'm not seeing?

7. The Payments under the Dashboard supposedly shows you all your sales. Is this correct?

8. How is the Site Cart different from the Members' Cart? I do not know what either of these is used for.

Thanks in advance for your input.