Well, there is no reason for him to drop price, since the demand is high, $20 is as low as I got as well. The etherlite tunnels all ports over a single TCP connection, so you have to pick which computer will be able to access all these ports. In this case, think of the Ethernet connection as a wired USB connection.
1) Should work fine on thin clients, if not, you can use 'generic' drivers, such as the HW VPS software I linked earlier. It's more 'portable', free and should work with most hardware.
2) Only in certain cases can you have multiple connections to the same port, so I wouldn't make too big of a deal about that as it will be limited. Check the manual for the various 'operating modes', and it will make more sense. That said, I also have a hardware serial port splitter (still need to review this thing), so it isn't unheard of.
3) There is a web interface, which you can access after you have assigned it an IP address. Since these are used models, it already comes with an IP, probably not matching your subnet, but you can change it using the setup software (it can address the hardware, even without having a good IP), without having to change your own IP address or reset the unit. The setup software also creates 4 COM ports in your device manager, and links them with this new IP, so there isn't much to do just to get up and running.
4) The D-Link works
But I agree, I have a 2nd one on my way, and ordering more for other projects, so hopefully people like Wayne can confirm soon if their cheap power supply is compatible.
I also recommend you update the firmware, just make sure you stick with the major revision of your hardware. I.e., if your QSE-100 came with 4.x firmware, grab the latest copy of the 4.x generation. Don't put 5.x on it, as it is designed for different hardware.