bahrain wrote:1. Do I simply install the above .apk (renaming the old one), rebooting into Recovery and clearing Cache/Dalvik and I'm off and racing? Do I still need to install Lucky Patcher or is that step now redundant?
for update you can press to apk in your Explorer and press install.
bahrain wrote:2. Am I able to use this as a normal Playstore, or do I need to flick between them? Can your modded version still update Free Apps etc?
My Google Play equals original Play Store, you can use only mod.
bahrain wrote:3. Just so I have this correct, for example if I want to install PowerAMP using your fantastic modded Playstore, I would install the PowerAMP .apk available here on the forums, then run your Playstore and then I can go about my normal business and when an update is released, your modded Playstore will simply let me update thinking its purchased?
it depends on the application. Sometimes you can even try to get a license and replace to original market. And it may be the application will continue to work as a license until they are refreshed.