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So the new knights let's us have one as an allie in an imperium or a chaos army.

How does that work? I sometimes like fealding 6 terminator space wolf's. But it could be cool to have a bigger 'dreadnought' there as well.

You can select a single Freeblade/Dreadblade Knight to gain the Agent of the Imperium/Agent of Chaos keyword. These keywords allow you to take units outside of your faction and not lose your Chapter Approved rules i.e. Doctrines, Power From Pain.

That's not bad. Depends if the datasheets are good. And in they are fun to play with or against.

No idea. Haven't used Knights in 8th or 9th and haven't played against them since they got their 8th Codex.