1. It's not listed on the FSF list
2. So presumably, yes.
3. It's fairly new, so they may not have decided yet. Either it will prosper, and they will produce new releases, or it will die, and you'll have to find another distro. Not the end of the earth.
4. Why not install it on a small partition and try it?
6. From http://www.chakra-linux.org/wiki/ind..._Release_Model
From the beginning, Chakra was based upon the concept of a "Half-Rolling Release Model,” a rolling release, with a stable core.
What this means is that Chakra's core packages - for example graphics and sound system - are only upgraded after the latest versions have been thoroughly vetted as part of our continuous testing cycle, before being moved to the stable repositories. There is no set time-frame for release cycles thereby avoiding certain short-cuts and feature lag. Instead, core updates will be rolled out continuously as they are ready and new Live CD builds will be updated appropriately, often around key KDE releases. User applications not related to the core system are continuously updated and generally available immediately upon their release.
7. Presumably, you can have everything on the Arch repos, which is quite a lot.
Why not give it a go? Why not dual boot with Centos, or multi-boot with a third OS?