Welcome.
1. WILD necessarily entails waking up at some point. In brief, the idea is that you wake up just before an REM sleep cycle and then, with your newfound awareness gained from waking up, you transition back into dreaming keeping your awareness up. You can lucid dream without waking up, but that's an entirely different technique called MILD.
2. Varies. Some get it their first day, others can wait months. Really just a case of keeping at it. You may encounter prolonged dry spells, as well.
3. Theoretically, you can lucid dream as many times as you regularly dream. It's unlikely to be that often, though. Even if you lucid dream on command, I'd still give yourself some "ordinary" sleep more often than not.
4. For me, its like being at your most alert and intelligent, with absolute unwavering confidence. There's a massive adrenaline rush once I become lucid and combined with the above I fell utterly amazing. The realisation that you're in what is a essentially a perfectly immersive virtual world of your own devising is wonderful. Generally speaking, it will fell real. The awareness alone tends to give lucids more depth than regulars. Perception is often the same as in waking life, except enhanced. You can get some weird and wonderful ways of seeing the world on occasion.
5. Tend to be quite short when you're first starting (the excitement alone when it works often shakes you awake). As you get used to it, its easier to control these feelings and lucids can go on for hours theoretically. Same as a normal dream in that one regard, I suppose. Dream control can help you lengthen them, as well.
6. No, but being aware during REM atonia (a perfectly normal function of the body which occurs everytime you sleep. Usually you're mind is asleep during this part.) can often be mistaken for it. In a way, you sort of want this, since its a good guide post to indicate you're on the way to a lucid dream. As for the scary figures, they only appear if you expect them to and even if they do show, they're not worth wasting the effort of being afraid of on. Nothing more than another signpost at best.
Hope that was helpful (and accurate! Off to sleep, myself, you see). Happy dreaming and good night.
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