1) It has copy protection software.
2 & 4) Yes
And I quote:
....Black Library permits you a license to use the e-book on the following terms:......
1.1 To store the e-book on any number of electronic devices..... (etc etc including PC's)
3) Technically, from what I'm reading, no.
Point 1.0 is the license is royalty free and non-transferable, point 1.2 is that you can access the e-book using an appropriate electronic device through any appropriate storage media.
Points 2 then says you are only allowed to use and store the E-book as it says in point 1.
In addition, point 3.4 says you can't reverse engineer, bypass, alter, amend, remove or make any changes to the copy protection tech used in the e-book, and I would assume changing it to a PDF might affect it
The rest of the terms are mostly the different ways to say "don't distribute the e-book to people without a license to have it"