1. Short answer... not a good idea for a novice, especially a solo novice. I would suggest, at a minimum, any solo paddler have strong bracing skills and rolling or wet reentry skills. (they make it look easy on you tube)
2. You would need a "real" sea/touring kayak. I have seen some recreational kayaks there, but they limit themselves to protected waters and when they do venture out into Superior they come back with some dirty drawers.
3. Wet suits and dry suit are substantially the same as SCUBA divers gear (in theory, practically they are quite different). a wet suit allows water to move around close to the skin, but insulates it with a layer of neoprene. A dry suit is a bag your put yourself in and stick your head out the end. (not really, but you get the idea) You stay dry inside the bag and therefore warmer. Dry suits with proper insulation under them increases survivability substantially over nothing or a wet suit. One or the other is needed. Paddling/kayak specific. not used SCUBA, freedom of movement and other parts make them incompatible.
4. Yes, and you know how to use it(i.e. get out upside down... see #1)
5. If you go into the water and lose your kayak, to you want a chance of someone coming to get you?
6. I have a friend that circumnavigates once a year ( with a lifetime of paddling experience) who reserves about a week trip. It comes down to weather. Winds and waves tell you if you are reading or paddling that day. He does it with four paddling days, but he is a power paddler with shoulders about as wide as I am tall.
7. Depends on the weather.
Blake Pointe: I have a nice picture of glass flat water at Blake from a few years ago. last year I tried to take a picture of my paddle buddy, but he kept disappearing behind the 6 foot wall of water. Weather is generally east or west. If it is coming from the side your on, it's easy to decide if it's a bad idea. If the weather comes from the other side, you don't know how bad it is until you are just about in it. Now you have to get turned around in the chop and waves, a thing big kayaks don't like to do without practice (see#1).
Safety first.
Now my suggestions for a novice. Get a half way decent touring kayak and stick to Rock harbor and the barrier islands or portage Duncan and play around in the protected waters of Five Fingers area. You can be safe from the wrath of lake Superior and a short swim/tow to land if your reentry skills aren't up to snuff. I love the Fingers, there is a lot of poking around to do just feet from shore. If the weather and waves are cooperating, you can scare yourself by venturing into lake superior a bit.
a side note. I see you are from Chicago area. Madison, Wisconsin host Canoecopia March 8-10
http://www.canoecopia.com/canoecopia/page.asp?pgid=1001 . This would be a great place to look a gear, albeit high end gear.
God luck, have fun.