#1
I'm thinking about getting this guitar. Would it be good for stuff like Arctic Monkeys, The Wombats as well as stuff like Jimmy Eat World? What are the advantages and disadvantages of it?
#2
Good sound for the stuff you like, solidly built, good value for money. It's a bit heavier than the average tele, from what I remember, but it's nothing unbearable.

With your taste in music, I think it's one of the best choices.
#3
It has a much different sound than normal Telecasters. just throwing that out there.
Set Up

Fender Highway One Stratocaster
Fender Princeton Chorus Amp
Fender Acoustic 12 String
Samick Acoustic 6 String
Line 6 POD X3 Live
#4
It'd be fine.

I own one and play both more clean and more heavy music than the bands you mentioned so it's very versatile. To top it all off, they look awesome.