1) Trade range is now a factor of your character and their position. Not a factor of distance from your region
And if you're a trader, your trade skill. Higher trade skill = higher range. Also, traders can hook up regions that are vastly farther apart. If their range is 500 miles, they can hook up a region that is 500 miles to the west of their location with a region that is 500 miles to the east, for a total trade distance of 1,000 miles. (No, that's not the max possible distance. The better traders can go farther than that.)
3) I've got no idea about this one. Do you mean they expire if no one fills them within a certain time?
You have to specify a lifetime for the trade deals. They expire in a max of 14 days, and the gold/food is returned.
It is quite possible that a lord may have reduced flexibility with this system. But if you're smart, and have a couple traders working with you on establishing a trading network, you can cover huge swathes of the islands. But you will probably have to share some of the action with your partners in crime.
