Hi Ed,
1: We'll likely add FBX model import in the future (we already have import of camera, lighting, animation data in FBX, of course). What other formats would you want us to support? Keep in mind we need to focus on the most widely supported formats in other programs too, to maximize return on our efforts.
2: The "Sculpting" feature in Terragen Classic can be almost exactly duplicated with the Painted Shader, and it (the Painted Shader) can do a whole lot more besides - it's much more versatile. To get the basic "Terragen Classic" style of sculpting quickly, just add a Displacement Shader to your Terrain network (on the Terrain layout, click Add Terrain -> Displacement Shader and select Displacement Shader). Then open the Displacement Shader's settings and where it says "Function", click the green + button on the right, select Create New Shader -> Colour Shader, then select Painted Shader. The Displacement Shader takes brightness values as input and interprets them as levels of height (displacement), where white is the maximum (equal to the Displacement Multiplier, which will effectively be height measured in meters), and black is 0 displacement. So what you're doing is feeding the Painted Shader output into it to define displacement area and relative height. You'll want to set the Displacement Multiplier to say 100 for now. Finally, go to the 3D preview, click the icon that looks like a paint brush at the top, click Start Painting and select Painted Shader 01 that you just created. Then you can start painting displacement. With the default camera view and Painted Shader brush size, it will give you too much displacement in the foreground, but you can try painting on the mountain in the background to see the effect easily. Ideally you'll want to move the camera up so you have a good aerial view to paint with, of course. You can just select the Top view in the 3D preview camera controls if you want to really duplicate the more limited TG Classic approach.
The control you have over the Painted Shader is more than you had in Classic, and you can also paint almost any kind of displacement this way by using the Painted Shader as a mask instead (i.e. paint the Alpine Shader only where you want it to go). I know all that sounds complicated, but it's actually pretty simple, and once you do it a couple of times it'll be second-nature.
3: You can change the "Lat/Long at Apex" in the Planet node's settings. It sounds like that would be similar to what you want.
4: Most of the information in the Wiki is relevant to both Terragen 2 and 3. We're updating all the info progressively over time, so it's an understandable concern. If you find something that looks particularly out of date let us know. We do know that the "Getting Started" guides are still Terragen 2 specific.
- Oshyan