#1
So, whats so great about Bigsbys, please forgive my ignorance, but i've never really played on one myself or seen one played?
So yea
#2
Nothing
"Guitarmen, wake up and pluck wire for sound, let 'em hear you play"
-Charlie Christian
"You have to give people something to dream on"
-Jimi Hendrix
"I try to make any guitar do what I want it to do"
-Slash
#3
They're a good tremelo system that works on hollowbody guitars, with a nice large handle that won't go down 10 octaves with a small press, good for bluesy type things.
That's what I've observed, anyhow, I haven't gone researching so I can't tell you much more.

Oh, they also look pretty neat on the right guitar. :3
We've drained full confession booths, polluted drinking wells with our repentances, and then stood grinning with our arms around the shoulder of a rotting child.



If you resist change, you will be here forever.
#4
Mine's purrrty. I don't use it that often in rock, because of the rather small range, but it's nice for some vibrato during a lick in blues.
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#5
They're nice if you're not into van halen-esque stuff. They tend to be pretty stable even without locking nuts and you can still do stuff like doublestop bends with them. The only thing is the range is limited.