Need theatre mode answers from people who have the game and used theatre mode...

1.Is it like black ops?
2.Can you watch it with mates?
3.Can you watch friends and players from around the worlds videos? like community on BO?
4.Is there file share? and how many FS slots it there, Like on BO there was like 6?
5.Can you download other peoples videos?
6.Whats the longest you can record for?
7.Can you cut the videos like on BO?
8.Does it work? on BO it had issues where sometimes it wouldn't save a game or it skip parts out... Does mw3's theatre work?

Just want answers of someone who has used it