Nope, Currently working on it.
May be. The expected outcome of the project is one year industrial exposure. So, it is better to use some advanced technologies in your project rather than limiting to a simple standalone inventory application. Network project may be more than appreciated because, almost all the past projects were software projects. BCS examiners would love to assess a network project over common software projects.
Nope, I got my supervisor accepted even after he having only 5 years of work experience right after the graduation. So, no need to worry if there is 5 year proven experience.
Not yet. But, there is an non official news that BCS people are going to have that kind of presentation and a viva session for BCS projects in near future with the support of British Council and with the involvement of Professors from Local Universities. There after it will be a bitter experience for all students. So, please do your projects ASAP to get rid of presentations.