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Doesn't appear to be any gravity on this offer yet? When will it go live?

Free domains aren't worth much - this just further emphasizes it. At the end of the day, free hosts can also just pull the plugin on all your hard in work. $0.79 - $8 is worth it for a domain; straight up hosting is worth it over the free variety when it comes down to it too.

Yes, there is taxes when you flip websites. Talk to an accountant. Can be classified in different ways. If you make a dime, and you live in most countries in the world, the government has to get their cut or you're facing a world of trouble.

It's a trusted site, but it really depends on which page indexed you. If it's on a profile or off a comment section, it's devalued compared to an in-content link. Similarly, is the page highly trafficked / linked to ? That'll determine some of the value as well.

It's true. Submitting to Google confers no value beyond letting them know you exist. External links improve how they rank you. This applies to the big 3 search engines.