New GL Queries

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Hello Gurus

We are presently using classic GL in ECC6.0 and are planning to activate New GL. However before doing that I have several queries.

1. What are the pre-requisities to activate New GL.. Should it be done before uploading master data?

2. What would be the effect of NEW GL on the processing side?

3. Do we have to re-write the reports including the Z and Y custom reports? If so, What are the things to be considered while re-writing the custom reports?

4. Does other modules gets impacted by NEW GL?

5. Lastly and most important, If we drop the decision of going with the NEW GL, is it possible to switch over to the Classic GL after activating the New GL ? If so, What are the steps to be followed as I cant see deactivation button for NEW GL.

Thank you