In my opinion they're not accurate, i once lost 2% body fat over night, simply because i was drinking a bit of water and had a big dinner the ngiht before, the next morning i lost a few pounds and apparently a lot of body fat, haha. I think they just use a formula derived from weight and height and such.
Doubtful. It's important you read and follow the directions that come with the scale. In the morning, your BF reading will be HIGH on these scales because you're dehydrated. As I said above, the good ones are consistent and can give useful, if not absolutely accurate information. Just another tool in your kit.
Not doubtful, I have tried similar models (that work on the upper body) with a personal trainer. He used it as a bit of a laugh- before using the pinchy things (callipers?). Showed me how the callipers can go down yet the body fat can go up even higher....
I'd place a bet on the scales doing the same. Just water difference. I'd not waste my money myself but go for it if it makes you happy.